Which of the following is generally NOT an example of a zero price?
A. Getting a refill of coffee at a restaurant
B. Downloading another MP3 from iTunes
C. Watching another movie on Netflix
D. Sending another text message
Answer: B
Economics
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Assume that a consumer purchases products A, B, and C in quantities such that the last dollar spent on each yields the same marginal utility and the consumer's income is totally spent. We can conclude that:
A) total utility is being minimized. C) marginal utility exceeds total utility. B) production costs are being minimized. D) total utility is being maximized.
Economics
Define the following terms carefully: (a) Full employment (b) Purchasing power of money (c) Real wage rate (d) Relative price
What will be an ideal response?
Economics