Suppose the total benefit of watching 1 baseball game is 100, the total benefit of watching 2 games is 120, and the total benefit of watching 3 games is 125. In this case, the marginal benefit of watching the 3rd game is:
A. 375
B. 5
C. 41.67
D. 125
Answer: B
You might also like to view...
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the GDP Price Index and current international transactions balance in the context of the Three-Sector-Model? a. The GDP Price Index
falls and current international transactions balance becomes more positive (or less negative). b. The GDP Price Index and current international transactions balance remain the same. c. The GDP Price Index falls and current international transactions balance remains the same. d. Real GDP falls and nominal value of the domestic currency rises. e. There is not enough information to determine what happens to these two macroeconomic variables.
Which statement about oligopoly is false?
A. Prices in oligopoly are predicted to fluctuate widely and frequently. B. One firm's behavior is a function of what its rivals do. C. Oligopolistic firms recognize their interdependence. D. A few firms play an important role in the sale of a product.
Countries that maintain a constant gold value for their currencies are said to be on a gold standard
a. True b. False Indicate whether the statement is true or false
Consider the price paid for debt issued by the State of California. Which of the following would lead to a decrease in the value of State of California bonds?
A. The State of California pays back its previous bonds ahead of schedule. B. The State of California bonds have a shorter maturity. C. The State of California bonds are in small dollar amounts. D. The State of California experiences a fiscal crisis that makes it less likely it will be able to honor its interest payments.