The optimal combination of pizza and Coke is the one
a. where marginal utility of pizza equals marginal utility of Coke.
b. where total utility of pizza equals total utility of Coke.
c. where marginal utility per dollar spent on pizza equals marginal utility per dollar spent on Coke.
d. none of the above
c. where marginal utility per dollar spent on pizza equals marginal utility per dollar spent on Coke.
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The Balance of Payments
The idea that there is no voting system that can consistently make a fair choice among three or more candidates is a conclusion of
A) Arrow's impossibility theorem. B) the Condorcet paradox. C) the Voting Rights Act of 1965. D) the median voter theorem.
Currently major telecommunications companies are more insulated from competition than they were in the times leading up to passage of the Telecommunications Act of 1996
Indicate whether the statement is true or false
The text maintains that people find the workings of the economic system bewildering, largely because
What will be an ideal response?