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.
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Recall the Application about price discrimination using refillable soda bottles to answer the following question(s).According to the Application, who are the customers who have a more elastic demand?
A. the consumers who bring refillable bottles to get a discount B. the consumers who buy the disposable bottles C. all consumers D. the consumers who do not buy soda through refillable or disposable bottles
Unemployment benefits are
A. paid regardless of a person's income from other sources and regardless of assets. B. paid to individuals the entire time they are unemployed regardless of how long they are unemployed. C. not paid to individuals with assets valued over $200,000. D. reduced by an amount that is equal to an individual's income from other sources.
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?
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?