Suppose that you consume only pizza and Diet Pepsi. The table above gives your utility from consuming these two goods. What is the marginal utility you get from the fourth slice of pizza?
A) 36
B) 18
C) 12
D) 4
C
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Why do sellers pay all of a tax when supply is perfectly inelastic?
A) because a perfectly inelastic supply means that the demand is elastic B) because the government requires firms to collect the tax C) because a perfectly inelastic supply means that the quantity supplied is quite sensitive to a change in price D) because a perfectly inelastic supply means that suppliers will produce the same amount regardless of the price E) because in this case the price of the good that suppliers receive and keep does not change
Investing $2 million of your own money in your business is an example of an _______ cost.
Fill in the blank(s) with the appropriate word(s).
the slope of the consumption = the _______ propensity to consume
What will be an ideal response?
An increase in the marginal tax rate on labor income will shift the
a. labor supply curve leftward b. labor demand curve rightward c. labor supply curve rightward d. labor demand curve leftward