What is a marginal benefit?
What will be an ideal response?
Marginal benefit is the additional benefit received from continuing with an activity.
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Which of the following statements about two-part tariffs is false?
A) Because each individual has a different individual demand curve, if there is just one entrance fee some consumers will be able to reap some consumer surplus. B) The producer cannot capture the entire consumer surplus because the entrance fee might discourage some potential consumers even though they would have been willing to pay a lesser entrance fee. C) For two-part tariff pricing to be successful, the producer must be able to identify two distinct customer groups. D) Two-part tariff pricing allows a producer to capture the entire consumer surplus.
State chartered banks must be members of the Fed
Indicate whether the statement is true or false
If debit cards become more widely used by consumers and businesses, which of the following is most likely to happen?
a. Currency holdings will remain the same, but the M1 money supply will fall. b. The amount of currency held by the public will increase. c. Less money will be held as currency and more money will be held in bank accounts, which will increase the reserves of banks unless the Fed takes offsetting actions. d. The money supply will be unaffected because debit card expenditures are considered the equivalent of cash.
The Coase bargaining solution applies to a situation when there is a ________ number of affected parties, and the transactions costs of bargaining are relatively ________.
A. large; high B. large; low C. small; high D. small; low