By itself, the marginal utility of a particular good:
A. provides important information about a consumer's preferences.
B. tells us how much a consumer would pay for the good.
C. tells us how much the consumer values the good.
D. is completely meaningless.
D. is completely meaningless.
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The lowest marginal tax rate used in the United States is
A. 10 percent. B. 28 percent. C. 33 percent. D. 39.6 percent.
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.
Resources are allocated among households and firms with little or no goverment interference
What will be an ideal response?
According to behavioral economics, placement of goods in retail stores is often designed to accomplish which of the following?
A. Maximize impulse buying by consumers. B. Minimize shelving costs. C. Maximize convenience for customers. D. Maximize the amount of product the store can display.