Marginal utility is _____
a. always greater than total utility
b. utility that is not as good as normal utility
c. the extra utility derived from consuming one additional unit of a good or service
d. always positive
e. not related to total utility
c
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Generally, most of the world’s industrial countries believe that central banks should be independent of their governments.
Answer the following statement true (T) or false (F)
In his book Power and Prosperity, the economist Mancur Olson theorized that a country is better off under a dictator who maintains power for a long period, such as Mobutu, than under a short-term, unstable dictatorship
Olson maintained that, while both are very undesirable forms of government, the former is less disruptive to the economy than the latter.Discuss why this assertion may or may not be true.
Imagine a world with two large countries, Home and Foreign. Evaluate how Home's macroeconomic policies affect Foreign. Compare the small and the large country cases; consider both permanent monetary and fiscal policies
What will be an ideal response?
What best defines active policy making?
A) taking action to offset a change in economic performance B) taking action to increase long-term economic growth C) taking action to make markets more competitive so as to improve efficiency D) taking action to make markets less competitive so as to improve equity