The table below shows the utility schedule for a consumer of candy bars. Candy Bars ConsumedTotal Utility001529312414515615713Based on the data in the above table you can conclude that the
A. marginal utility of the third unit is 4 utils.
B. total utility of 2 units is 4 utils.
C. marginal utility of the fourth unit is 14 utils.
D. marginal utility of the sixth unit is 0 utils.
Answer: D
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The above figure shows the production possibility frontier for a country. What is the opportunity cost per ton of rice to move from point B to point D?
A) 500 bottles of wine B) 2 bottles of wine C) 1/2 of a bottle of wine D) 1000 bottles of wine E) None of the above answers is correct.
Strategic voting can reduce the power of someone trying to manipulate the outcome of an election
Indicate whether the statement is true or false
Explain how the introduction of an additional competitive market can always solve the efficiency problem that emerges from a positive externality.
What will be an ideal response?
When a perfectly competitive firm is in long-run equilibrium:
A) its total revenues equal the sum of its total explicit and implicit costs costs. B) the firm is operating at the minimum of its LRAC curve. C) the firm is earning zero economic profit. D) All of the above.