With a given income and prices of goods, Marcus will be in a consumer equilibrium if ________
A) his marginal utility from all goods is the same
B) he purchases the same amounts of all goods
C) he maximizes his total utility
D) his marginal utility from all goods is at its maximum
C
You might also like to view...
Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. What is the cost to Firm C of eliminating 2 tons of pollution?
A. $1,300 B. $300 C. $1,500 D. $2,200 E. $3,500
Which of the following statements is true?
A. The lower transaction costs are, the more likely individuals will solve negative externality problems through a voluntary exchange. B. The higher transaction costs are, the more likely individuals will solve negative externality problems through a voluntary exchange. C. Coase agrees with Pigou that taxing those activities associated with negative externalities is a good idea. D. a and c E. none of the above
A perfectly competitive firm shuts down in the short-run when the market price is less than the average variable cost
a. True b. False Indicate whether the statement is true or false
Who was the leader that introduced communism and central planning to the former Soviet Union?
a) Karl Marx b) Joseph Stalin c) Vladimir Lenin d) Friedrich Engels