If marginal utility is negative, total utility is negative
a. True
b. False
B
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To determine guilt of cartelizing, the antitrust laws use
A) evidence of conspiracy. B) economic effect. C) evidence of tacit collusion without meeting. D) None of the above.
Net exports are a ____ proportion of GDP and have recently been ____ for the United States
a. small; positive. b. small; negative. c. large; positive d. large; negative.
Managed float means:?
What will be an ideal response?
Electricity accounts for almost 20% of the cost of making steel. A 10% increase in electricity prices results in steel firms decreasing production and thereby demanding 5% less electricity. Over many years, technological innovations can change the way steel firms make steel and reduce the industry's energy requirements. This suggests that the steel industry's short-run elasticity of demand for
electricity is probably A) less than one in absolute terms in the short run. B) less than its long-run elasticity of demand for electricity. C) Both A and B above. D) Neither A nor B above.