Kobe has just eaten another hot dog and his total utility decreased. This means that Kobe's marginal utility for this additional hot dog is
A. positive.
B. negative.
C. zero.
D. not determinable without more information.
Answer: B
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In the above figure, saving will equal zero when real disposable income equals
A) 500. B) 600. C) 60. D) 0.
Refer to Figure 8.6. The vertical distance AB is Outdoor Equipment's A) marginal cost. B) average fixed cost. C) total fixed cost. D) total cost.
In a hyperinflation, the economy:
A. always collapses. B. can continue to function because people build expected inflation into wages and prices. C. will slow on its own to lower inflation. D. can continue to function but people are unwilling to hold any money.
A coordination problem usually occurs in situations where there is:
A. more than one Nash equilibrium. B. a unique, secure strategy for both players. C. no Nash equilibrium in a game. D. a unique, but undesirable Nash equilibrium.