Of the following countries which are recognized as socialist systems?
A. Sweden.
B. Greece
C. Canada.
D. All of these countries have socialist systems.
D. All of these countries have socialist systems.
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Colin spends his income of $100 per week on two goods: pizzas (which cost $8 each) and milk (which costs $1 per gallon)
At his current level of consumption, the marginal utility from the last pizza consumed is 32 and the marginal utility from the last gallon of milk is 4 . Is Colin maximizing his utility? Why or why not? If not, what should Colin do to achieve a higher level of utility?
Savings and loan regulators allowed S&Ls to include in their capital calculations a high value for intangible capital called
A) goodwill. B) salvation. C) kindness. D) retribution.
“A producer wanting to employ optimal quantity of inputs should choose the point where diminishing returns set in.” True or false?
What will be an ideal response?
Suppose the inverse market demand is given by P = 20 ? Q. If the incumbent continues to produce eight units of output, which of the following equations best summarizes the potential entrant's residual demand curve?
A. P = 8 ? Q B. P = 12 ? Q C. P = 12 ? 8Q D. P = 20 ? 12Q