If total utility increases from 10 to 15 for the second unit of a good consumed, the marginal utility of the second unit is 5
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose the current account has a value of -$500,000 and the financial account has a value of $525,000. The value of the capital account is ________.
A. $25,000 B. -$25,000 C. $500,000 D. -$500,000
What are some of the ways that real-world airlines price discriminate?
What will be an ideal response?
The "rule of reason"
a. applies to business practices that are illegal regardless of their economic rationale or their consequences b. applies to business practices that are legal, regardless of their consequences c. means that business practices cannot be proven to be illegal, and a consent decree is required to halt the practices d. considers why a certain business practice was adopted and what the effects on competition are, before determining whether the practice is illegal e. focuses on market structure rather than on the behavior of firms in determining whether antitrust violations have occurred
Supply shows
a. the quantity offered for sale at every possible price. b. the quantity people will buy at every possible price. c. the changes in quantity. d. how price changes when people buy more.