The price of a McDonald's dinner is $5; the price of a Burger King dinner is $5. The marginal utility you would get from the next McDonald's dinner is 15; the marginal utility you would get from the next Burger King dinner is 20. You should:
A. consume more Burger King dinners.
B. consume more McDonald's dinners.
C. not consume either Burger King or McDonald's dinners.
D. realize you cannot make a rational decision.
Answer: A
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Which type of business involves one partner managing while the others are financial partners only?
a. sole partnership b. general partnership c. limited partnership d. managerial partnership e. none of these
Build-Right Concrete Products produces specialty cement used in construction of highways. Build-Right is a price-setting firm and estimates the demand for its cement by the State Highway Department using a demand function in the nonlinear form:Q = aPbMc
where Q = yards of cement demanded monthly, P = the price of Build-Right's cement per yard, M = state tax revenues per capita, and PR = the price of asphalt per yard. The manager at Build-Right transforms the nonlinear relation into a linear relation for estimation. The estimation results are presented below: 
height="198" width="577" />Given the above, if the price of asphalt (PR) decreases 20%, the estimated quantity of cement demanded will: A. increase 1.2% B. increase 12% C. decrease 1.2%. D. decrease 12%. E. increase 6%
In the contestable market oligopoly model, firms ________ produce where price exceeds marginal cost.
A. are not legally allowed to B. do not always C. never D. always
In the figure above, when 6,000 pizzas are produced, the marginal benefit of a pizza ________ its marginal cost, which means ________ pizza is being produced
A) exceeds; too little B) exceeds; too much C) is below; too much D) is below; too little E) equals; the efficient quantity of