A consumer is said to be indifferent between two consumption bundles
A) when the consumer doesn't care about his or her consumption bundle.
B) when the two bundles provide equal amounts of utility.
C) when the consumer chooses the bundles equally often.
D) when the consumer is indecisive.
B
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Given the information in the table shown, what is the marginal revenue when 25 units are produced?
This table shows price and quantity produced for a single firm in a perfectly competitive market.
A. $250
B. $25
C. $10
D. $20
Assume that Country X and Country Y are trading partners and the exchange rates are fixed. If prices in Country Y rise, all of the following are expected to happen except
a. Country X will export more. b. Country Y will import more. c. Net exports will rise for Country X. d. Trade will boost Country Y GDP.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Which of the following goods is NOT subject to the free-rider problem?
A) a public park B) the local police force C) public fireworks D) a mass transit system