If the combination of goods consumed at point C is preferred to combination D then
A) point C is on a higher indifference curve.
B) point C is on the same indifference cure but at a point where the vertical axis value is greater than point D's vertical axis value.
C) point C is on a lower indifference curve.
D) point C is on the same indifference curve but at a point where the horizontal axis value is greater than point D's horizontal axis value.
A
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People often make economic decisions they later regret, which shows
A) they failed to acquire additional information up to the point where expected marginal benefit equals expected marginal cost. B) they failed to behave rationally. C) they failed to invest as much as they ought to have invested in information. D) none of the above.
Refer to Figure 5-1. The market equilibrium quantity is ________ thousand vaccinations
A) 200 B) 400 C) 600 D) > 600
The table below describes the value added in the production of a gallon of gasoline by each stage of production
(The values are hypothetical.) a) What is the value added by each stage of production? b) What is the total value added? For simplicity, you can ignore the cost of the inputs for oil drilling.
Everything else held constant, would an increase in volatility of stock prices have any impact on the demand for rare coins? Why or why not?
What will be an ideal response?