The marginal utility of a third skirt is
A) three times the average utility of the three skirts.
B) three skirts times the price of a skirt.
C) the total utility of three skirts divided by three.
D) the change in total utility from the third skirt.
D
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People who lost their jobs as hand-drawn animators because of the popularity of computer-generated 3D animation are examples of persons who are suffering
A) cyclical unemployment. B) frictional unemployment. C) seasonal unemployment. D) structural unemployment. E) unnatural unemployment.
Critics of advertising argue that it:
a. lowers price by increasing competition. b. results in more variety of products. c. establishes brand loyalty, which promotes competition. d. serves as a barrier to entry for new firms.
Mr. Jones pays his employees by the hour. He believes they purposely work slowly to maximize their personal satisfaction. What can he do to provide them with a stronger incentive to work efficiently?
Each C + I + G + (X ? IM) expenditure schedule is drawn assuming a specific
A. income level. B. spending level. C. production level. D. price level.