During Thanksgiving you participated in a pumpkin-pie eating contest. You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest. You got ________ utility from eating the fourth pie than from eating the second pie.
A. more
B. the same amount of
C. less variable
D. less
Answer: D
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An economy that experiences a rise in the price level over two consecutive quarters necessarily experiences
A) a recession. B) deflation. C) disinflation. D) none of the above.
Does a perfectly competitive producer have any incentive to undercut the current market price? Explain your answer
What will be an ideal response?
Travel Expert is a corporation that specializes in selling vacation packages in Transylvania and Stansylvania. There are a fixed number of shares of Travel Expert's stock available to the public. If the two countries go to war, making it much more dangerous to travel there, what will most likely happen to the Travel Expert's share price and the number of shares outstanding?
a. Price will fall; number of shares will fall. b. Price will fall; number of shares will rise. c. Price will rise; number of shares will remain the same. d. Price will remain the same; number of shares will fall. e. Price will fall; number of shares will remain the same.
By 2003, the average person in the West had about
a. 50% more income than the average person in the West in 1820. b. twice as much income as the average person in the West in 1820. c. ten times as much income as the average person in the West in 1820. d. twenty times as much income as the average person in the West in 1820.