If marginal utility is zero
A) total utility increases at a decreasing rate.
B) total utility increases at an increasing rate.
C) total utility is at a maximum.
D) people will consume more of the good only if the price is zero.
Answer: C
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The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$58544643343222211 If there were 300 sellers in the market, each with a supply schedule identical to seller 1 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $2 would be
A. 900. B. 1,500. C. 600. D. 200.
The government of Lithasia ran a budget deficit of $60,000 in 2014. If the tax revenue of the Lithasian government in 2014 was $320,000,000, how much did the government spend in that year?
A) $319,940,000 B) $1,060,000 C) $320,060,000 D) $49,000,000
Federal Reserve Bank Notes become currency when they are
a. actually printed b. delivered, after being printed, to the District Federal Reserve Banks c. transferred from the District Federal Reserve Banks to member banks d. converted by member banks into demand deposits e. used by banks as loans
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy were to open to trade, the amount consumed domestically would:
A. decrease by 40. B. increase by 40. C. increase by 35. D. increase by 75.