With respect to consuming food and shelter, two consumers face the same prices and both claim to be in equilibrium. We therefore know that
A) they both have the same marginal utility for food.
B) they both have the same marginal utility for shelter.
C) they both have the same MRS of food for shelter.
D) All of the above.
C
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Which of the following observations is true?
A. Free markets will achieve all of society’s goals. B. The ability to buy goods is divided equally among consumers. C. The market leads to efficiency in production through the profit motive. D. The market system encourages firms to use inputs wastefully.
A firm sells 1000 units per week. It charges $15 per unit, the average variable costs are $10, and the average costs are $25 . At what price does the firm consider shutting-down in the long run?
a. $25 b. $0 c. $15 d. $10
Single-parent households are disproportionately represented among those in poverty
Indicate whether the statement is true or false
What antitrust rule was Apple and five of the nation's largest publishers accused of in April 2012?
a. predatory pricing b. per se illegal c. tying contract d. exclusive dealing