The table shows Elaine's utility from pizza and Pepsi. If Elaine consumes 2 slices of pizza and 3 Pepsis, her marginal utility from the fourth Pepsi is ________ units
A) 60
B) 54
C) 40
D) 220
C
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The figure below shows the supply and demand curves for jeans in Smallville. The equilibrium price will NOT lead to the largest possible total economic surplus if:
A. there are diminishing returns in the production of jeans. B. jeans are purchased by consumers with reservation prices greater than $40. C. the production of jeans generates air pollution. D. the market for jeans is perfectly competitive.
Maryanne expects to work for another 30 years and expects to live another 10 years after she retires
If Maryanne completely smooths consumption over her lifetime, for every $1,000 increase in disposable income, she will use ________ for consumption each year. A) $100 B) $333 C) $667 D) $750
In which of the following market structures is a firm most likely to advertise extensively and fear entry of new firms?
a. perfect competition b. pure monopoly c. monopolistic competition d. oligopoly e. both perfect competition and monopolistic competition
Social Security is indexed by the CPI. As a result
a. it is "over-indexed.". b. it ignores inflation c. it is "under-indexed.". d. it is "un-indexed.". e. it is "over-subscribed.".