If B(X) represents the total benefit of activity X, then which of the following expressions best represents the marginal benefit of activity X?
A. B(X) - B(X - ?X)
B. (B(X) - B(X - ?X))/?X
C. (B(X) - B(X - ?X))/X
D. B(X - ?X))/?X
B. (B(X) - B(X - ?X))/?X
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A change in a consumer's feelings about the desirability of a good will result in an altered slope of the budget constraint
Indicate whether the statement is true or false
The term "double coincidence of wants"
A. means that people are trying to purchase the same thing. B. is a situation where runaway prices are the result of printing too much money. C. describes a barter situation where individuals agree to trade commodities in amounts satisfactory to both parties. D. means that people with the same commodities agree to trade among themselves.
Nonprofit association that promotes the interests of a particular industry:
a. cooperative b. corporation c. trade association d. limited partnership e. sole proprietorship
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.