Suppose the monopolist only sold the goods separately. What prices will the monopolist charge for Good 1 to maximize revenues for good 1?
a. $4,500
b. $5,000
c. $1,500
d. $1,000
a
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Which of the following is not an example of an economic policy that affects the level of unemployment?
A. Minimum wage law. B. Efficiency wages. C. At-will employment policies. D. Title IX.
For the six years following the passage of the North American Free Trade Agreement (NAFTA),
a. the U.S. economy had some of the slowest job growth and highest unemployment in its history. b. the U.S. economy had some of the most rapid job growth and low unemployment in its history. c. the U.S. economy had some of the most rapid job growth and modest unemployment in its history. d. the U.S. economy had some of the slowest job growth and modest unemployment in its history.
The price of a McDonald's dinner is $5; the price of a Burger King dinner is $5. The marginal utility you would get from the next McDonald's dinner is 15; the marginal utility you would get from the next Burger King dinner is 20. You should:
A. consume more Burger King dinners. B. consume more McDonald's dinners. C. not consume either Burger King or McDonald's dinners. D. realize you cannot make a rational decision.
Marginal utility is measured as
A. additional utility from each additional good consumed. B. utility per unit of production. C. output of a good or service divided by price. D. additional output divided by additional utility.