Utility is
A) easily measured in units called utils.
B) subjective and difficult to measure.
C) the consumption of a quasi-public good like electricity or natural gas.
D) the production of a quasi-public good like electricity or natural gas.
Answer: B
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If demand decreases and supply increases, price will
a. always increase b. always decrease c. increase only if supply increases more than demand decreases d. increase only if supply increases less than demand decreases e. decrease only if supply increases more than demand decreases
Managers should maximize
A) social accountability. B) the health and welfare of the employees. C) market share. D) none of these choices.
Explain how a decrease in the interest rate will affect autonomous investment
Refer to the information below. If Normal University undertakes program Level Three:
Answer the question based on the following information. Normal University has found it necessary to institute a crime-control program on its campus to deal with the high costs of theft and vandalism. The university is now considering several alternative levels of crime control. This table shows the expected annual costs and benefits of these alternatives.
A. Total benefits will be less than total costs
B. Marginal costs will exceed marginal benefits
C. There would be an under-allocation of resources to crime control
D. There would be an over-allocation of resources to crime control