If marginal utility is zero
A. total utility increases at an increasing rate.
B. total utility is at a maximum.
C. people will consume more of the good only if the price is zero.
D. total utility increases at a decreasing rate.
Answer: B
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A. 80 B. 0 C. 160 D. 120
The additional output a firm produces by hiring one more worker is called the marginal product of labor
Indicate whether the statement is true or false
An unexpected rise in the growth rate of the CPI should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Traditionally blacks have earned about _____% of what whites have earned.
A. 20 B. 40 C. 60 D. 80