If "an apple a day keeps the doctor away" and you are only interested in keeping the doctor away—which you value at 100 utils—what is the total utility you derive consuming 2 apples and what is the marginal utility of the second apple?
a. 200; 100
b. 100; 200
c. zero; 100
d. 100; zero
e. 200; zero
D
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If you have assets that include $50 in cash, a checking account with $135, a savings account with $500, and a jar of coins for laundry of $15.75, how much M1 do you have?
What will be an ideal response?
Refer to Table 12-2. How many pounds of apples should Margie sell to maximize her profit?
A) 300 pounds B) 400 pounds C) This cannot be determined without knowing Margie's total or marginal production costs. D) This can be determined only when all of the values for market price, total revenue, average revenue and marginal revenue are given.
When the loanable funds and foreign exchange markets are in equilibrium,
a. there are no leakages from the circular flow of income. b. macro equilibrium cannot occur. c. the leakages from the circular flow will equal the injections into it. d. injections into the circular flow will exceed leakages from it.
In a simple economy without government or foreign trade,and output can be purchased only by consumers or by firms, saving must equal:
A. investment. B. depreciation. C. consumption. D. income.