Marginal utility (MU) equals:
a. P/Q.
b. Q/TU.
c. PQ/TU.
d. TU/P.
e. TU/Q.
e
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Consumer Reports' reviews of products:
A. reduce an inefficiency in the market. B. allow more transactions that are valuable to buyers and sellers to take place. C. credibly provide more information to market participants. D. All of these statements are true.
All of the following, except one, help explain why specialization leads to greater production than is otherwise possible. Which is the exception?
a. It allows the organization of production in business firms. b. Specialization reduces the time lost in moving from one activity to another. c. As workers repeat an activity over and over, they hone their skills and become more expert. d. Specialization allows workers to be assigned to the activities for which they have the greater natural ability. e. The more often workers repeat an activity, the more stimulating and enjoyable they find it.
Which of the following forces did Keynes assert had the strongest influence on consumption decisions?
A. Wealth. B. Interest rates. C. Disposable income. D. Prices.
An increasing cost industry is one where total costs rise as the industry grows.
Answer the following statement true (T) or false (F)