A state of consumer equilibrium for two goods consumed exists when the:
a. marginal utility of all goods is the same for the last dollar spent on each good.
b. marginal utility per dollar's worth of two goods is the same for the last dollar spent on each good.
c. price of two goods is the same for the last dollar spent on each good.
d. marginal cost per dollar spent on two goods is the same.
b
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The median household income is
A) the income that separates households into two equal groups. B) the most common household income. C) the mean household income. D) the average household income.
All of the following are true regarding the Economic Order Quantity model except which one?
A) It determines the cost-minimizing quantity managers should order to keep in inventory. B) It assumes demand is known with certainty. C) It assumes demand is spread evenly over a time period. D) It accounts for changes in interest rates.
Regulators often adopt policies that benefit
A) consumers and injure producers. B) the firms regulated rather than consumers. C) only the government. D) no one.
It is essential to understand corporate cultures to make a merger successful
Indicate whether the statement is true or false