The enjoyment or satisfaction people receive from consuming goods and services is called utility

Indicate whether the statement is true or false

TRUE

Economics

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According to chapter 1 in your textbook, while economic theory offers a biased perspective on social phenomena,

A) it deserves our confidence, but only when it is confined to the monetary or financial sector of society. B) it is useless to anyone who rejects the free market system. C) it is nonetheless worth learning. D) it is superior to all the other social sciences.

Economics

Marginal physical product of the first worker is 100, 120 for the second, 80 for the third, 30 for the fourth, 5 for the fifth, 3 for the sixth, 2 for the seventh, 1 for the eighth, and 0 for the ninth. What is total product for the fifth worker and the

ninth worker respectively? A) 335; 341 B) 335; 0 C) 5; 0 D) 0; 5

Economics