Refer to the table below. Marginal utility begins to diminish with the consumption of the:
The table below shows a consumer's utility schedule.
A. Fifth unit
B. Fourth unit
C. Third unit
D. Second unit
B. Fourth unit
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The Millennium Development Goals include
a. eliminating the proportion of people living on less than $1 per day. b. universal primary education. c. increasing exports by one half. d. all of the above.
Either a dual or hierarchial mandate is acceptable as long as ________ is the primary goal in the ________
A) price stability; short run B) price stability; long run C) reducing business-cycle fluctuations; short run D) reducing business-cycle fluctuations; long run
An individual demand curve can be derived from the ________ curve
A) price-consumption B) price-income C) income-substitution D) income-consumption E) Engel
Which of the following characteristics distinguishes oligopoly from other market structures?
a. a horizontal demand curve b. a downward-sloping demand curve c. production of homogeneous outputs d. production of differentiated outputs e. interdependence among firms in the industry