The table above gives Cathy's total utility from Mt. Dew. If the price of a Mt. Dew is $2, Cathy's marginal utility per dollar from the 3rd Mt. Dew is ________ units per dollar
A) 20
B) 10
C) 32.5
D) 40
B
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If Ringo is risk averse, at a wealth of $200,000 his utility of wealth curve has a ________ slope and his marginal utility of wealth is ________ than at a wealth of $100,000
A) negative; smaller B) negative; larger C) positive; smaller D) positive; larger
Which of the following is not cited as a reason for a firm to pursue a group pricing strategy?
A) To minimize its total costs of production. B) To increase its total profit. C) To attract and lock in additional customers. D) To create network externalities.
If this is a closed economy, how many bushels of corn will be produced?
A. 600 million bushels B. 900 million bushels C. 300 million bushels D. 150 million bushels
Discretionary fiscal policy refers to:
A. changes in taxes and transfers that occur as GDP changes. B. the authority that the president has to change personal income tax rates. C. any change in government spending or taxes that destabilizes the economy. D. changes in taxes and government expenditures made by Congress to stabilize the economy.