Movie theaters would make more money if they offered students the same type of discounts on popcorn that they do on admission.
Answer the following statement true (T) or false (F)
False
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Given the data in the above table, income of $13, a price of $1 for a bottle of water and $2 for a hamburger, what is the marginal utility per dollar spent on water and on hamburgers when the consumer is in consumer equilibrium?
A) 20 units of utility per dollar spent B) 10 units of utility per dollar spent C) 5 units of utility per dollar spent D) 1 unit of utility per dollar spent
Which of the following claims is true at each point along a price-consumption curve?
A) Utility is maximized but income is not all spent. B) All income is spent, but utility is not maximized. C) Utility is maximized, and all income is spent. D) The level of utility is constant.
If MUx / Px = MUY / PY, then _____
a. the consumer should purchase the same quantity of X and Y b. the consumer should purchase less of X c. the consumer is maximizing utility d. the consumer should purchase more of Y e. the consumer is minimizing utility
In the early 1990s, which nation took the lead in driving up European interest rates?
A) Spain B) France C) Germany D) England E) none of the above