Exhibit 6A-2 Consumer Equilibrium
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Given the budget lines and indifference curves shown in Exhibit 6A-2, point D yields:
A. the same total utility as point A, but requires a larger budget.
B. the same total utility as point A, and point E for the same budget.
C. more total utility than point A, but requires a larger budget.
D. the same total utility as point B, but requires a smaller budget.
Answer: A
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Policies which promote improvements in health for a society are central to:
A. economic development. B. rising health care costs. C. government deficit spending. D. government monetary policy.
Economists in the field of industrial organization study how
a. central banking policies affect financial markets. b. firms' demand for labor and individuals' supply of labor affect resource markets. c. firms' decisions about prices and quantities depend on market conditions. d. externalities and public goods affect the environment.
Which of the following is not a central focus of the "economic perspective"?
A. Marginal analysis B. Scarcity and choice C. The scientific method D. Purposeful behavior
Refer to the above table. What does the marginal revenue product equal when 27 workers are hired a week?
A. $8 B. $16.25 C. $216 D. $1040