Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The marginal utility of the second video game rental is
A. 8.
B. 10.
C. 25.
D. 40.
Answer: A
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A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker decides to only make one transaction what is his profit/bid-ask margin
a. $8 b. $10 c. $12 d. $16
The Kyoto Protocol expired in
a. 2011 b. 2012 c. 2020 d. none of the above
Suppose there are two economies, Alpha and Beta, which have the same production possibilities curves and are on the same point on each curve. If Beta then devotes more resources to investment goods than consumer goods when compared to Alpha, then in the future:
A. Beta will not be able to achieve full employment or productive efficiency B. Beta will experience greater economic growth than Alpha. C. Alpha will experience greater economic growth than Beta. D. Alpha will not be able to achieve full employment or productive efficiency.
Refer to the above graph of a representative firm in monopolistic competition. What does line 3 represent?
A. Marginal revenue B. Demand C. Average total cost D. Marginal cost