A consumer is in equilibrium if he or she derives the same

A. total utility from each good consumed.
B. total utility per dollar spent on each good consumed.
C. marginal utility from each good consumed.
D. marginal utility per dollar spent on each good consumed.


Answer: D. marginal utility per dollar spent on each good consumed.

Economics

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Unemployment benefits are

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Economics

What does it mean for a firm to be suffering an economic loss? Does this imply that the firm is earning negative profit in the accounting sense? Explain

What will be an ideal response?

Economics

Two key consequences of asymmetric information are adverse selection and moral hazard. Define each concept, provide one example of each, and explain how the two concepts differ

What will be an ideal response?

Economics