When total utility is falling, marginal utility is
a. increasing
b. decreasing
c. positive
d. negative
e. 0
D
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Although there are many reasons why a market can be non-competitive, the principal economic difference between a competitive and a non-competitive market is:
A. the number of firms in the market. B. the annual sales made by the largest firms in the market. C. the size of the firms in the market. D the extent to which any firm can influence the price of the product. E the presence of government intervention.
Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__1420829190927__f1q535g1.jpg" alt="" style="vertical-align: 0.0px;" height="113" width="397" />If the first store to open in Miniville is located at A, to maximize the number of customers it attracts, the next store to open should locate:
A. just west of A.
B. just east of A.
C. at C.
D. at B.
The person hired by a corporation's board of directors to run the day-to-day operations of the corporation is known as the
A) chairman of the board. B) chief executive officer. C) owner-manager. D) corporate governor.
Nicaragua in the early 2000s set its exchange rate with the U.S. dollar to decrease monthly by 1%. This is an example of
A) a crawling peg. B) bad currency management. C) a parity band. D) a currency board.