Based on the table above, the cost of the base period market basket in the base period is
A) $3,300.
B) $21.00.
C) $3,250.
D) $4,650.
E) $4,885.
A
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"I really enjoy watching movies. The first one is best. After that I still enjoy movies but the last one is not as much fun to watch as the one before it." This statement reflects the
A) principle of diminishing total utility. B) principle of diminishing marginal utility. C) principle of increasing marginal utility. D) law of supply.
Suppose that in an effort to help single parents, the government decides to pay part of the cost of childcare. This measure would increase ________ in the market for childcare.
A. producer surplus B. total economic surplus C. efficiency D. consumer surplus
How have companies like Uber and Lyft affected the ride-sharing market?
A. Price and quantity of the rides have decreased. B. Price of the rides increased, and the quantity of rides have decreased. C. Price and quantity of the rides have increased. D. Price of the rides decreased, and the quantity of rides have increased.
Which of the following is a final good or service?
A. A haircut purchased by a father for his 12 year-old son. B. Fertilizer purchased by a farm supplier. C. Diesel fuel bought for a delivery truck. D. Chevrolet windows purchased by a General Motors assembly plant.