A consumer buys only food and clothing. If the quantity of food bought increases while that of clothing remains the same, the marginal utility of food will:
a. fall, but not as fast as the marginal utility of clothing falls.
b. rise, but not as fast as the marginal utility of clothing rises.
c. rise relative to the marginal utility of clothing.
d. fall relative to the marginal utility of clothing.
d
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An increase in the number of pineapple growers results in
A) an increase in the supply of pineapples and a rightward shift in the supply curve of pineapples. B) an increase in the supply of pineapples and a leftward shift in the supply curve of pineapples. C) an increase in the quantity of pineapples supplied and no shift in the supply curve of pineapples. D) no change in the supply of pineapples and a movement along the supply curve of pineapples. E) None of the above answers is correct.
What economic variables would you need to consider in order to distinguish between a developing country with a short-term balance of payments problem and one in a debt crisis? Explain what data you would need to look at and why
What will be an ideal response?
Horizontal mergers are pretty rare in the United States due to antitrust laws
Indicate whether the statement is true or false
A linear demand curve
A. will have an ever rising total revenue function. B. becomes less elastic as price falls. C. always has a constant elasticity. D. can have constant elasticity if its slope is more than one.