Marginal utility per dollar spent on good X is
a. total utility of X divided by its price.
b. marginal utility of X divided by its price.
c. the change in marginal utility of good X.
d. none of the above
b. marginal utility of X divided by its price.
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What is the effect on the equilibrium price and equilibrium quantity of theater tickets if the price of an orchestra ticket increases and the wage rate paid to actorsactors increases?? The equilibrium price of a theater ticket ______ and the equilibrium quantity? ______.
A. always falls ; increases B. always falls; decreases C. rises; increases, decreases, or remains the same D. does not change; does not change E. rises, falls, or remains the same; increases
According to the Swiss Institute for Management Development, the top country in terms of productive efficiency is
A) Germany. B) Japan. C) Switzerland. D) the United States.
One of the defining characteristics of an oligopoly is that:
A. one firm's behavior can affect the others' profits. B. all firms act independently to create a monopoly outcome. C. all firms act independently to create a perfectly competitive outcome. D. None of these statements is true.
Give 3 reasons for deviations from IRP. Do these deviations indicate unexploited profit opportunities for investors?
What will be an ideal response?