How might a restaurant manager use the concept of diminishing marginal utility to increase sales to her regular dinner customers?
a. She could expand the variety of options available at each price point on the dinner menu.
b. She could increase portion size without raising the price of the dinner menu items.
c. She could offer premium versions of dinner menu items to make the regular items seem more affordable.
d. She could offer a discount on dessert only to people who order dinner.
d. She could offer a discount on dessert only to people who order dinner.
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Which point shows where the United States economy was operating during the low point of the Great Depression?
A. Point A
B. Point B
C. Point C
D. Point D
The shares of GDP taken in taxes by federal, state & local governments
a. have risen steadily in the past 40 years to about 22 percent. b. have dropped steadily in the past 40 years to about 6 or 7 percent. c. grew substantially until the early 1970s and have leveled off at about 10 to 11 percent. d. fell steadily until the early 1970s and has risen steadily since then.
If the State of California decides to raise the drinking age to 25, what would happen to the demand for beer?
A. The demand for beer will shift left. B. The demand for beer will stay the same, but people will move up the demand curve consuming less. C. The demand for beer will shift right. D. One cannot tell what will happen with the information given.
Briefly discuss a currency board as an approach to maintaining a fixed exchange rate.
What will be an ideal response?