If marginal utility of apples is diminishing and is a positive amount, consuming one more apple will cause
A) a consumer to go beyond her optimal consumption of apples.
B) total utility to decrease.
C) a consumer to get no satisfaction from consuming apples.
D) a consumer's total utility to increase.
D
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There are two equilibria in each of the following two-player games except
A) a prisoner's dilemma game. B) a pure coordination game. C) an assurance game. D) a battle of the sexes game.
Assume you are the owner of a delivery service company with a large fleet of trucks and drivers. Each of your drivers is allowed two thirty-minute breaks per day. However, some of them take longer breaks than your policy allows
You find out about this problem only by accident when you heard a couple of employees discussing during a morning coffee break. What kind of a problem is this for you from an economic point of view and what methods might you employ to mitigate this problem?
In regression analysis, the explanatory variables
A) are always price and income. B) are the variables whose variations are to be explained. C) are the factors that are thought to affect the dependent variable. D) are used to explain the random error term.
A technological improvement in the production of good X causes the:
a. demand curve for X to shift to the right. b. demand curve for X to shift to the left. c. supply curve for X to shift to the right. d. supply curve for X to shift to the left.