Suppose a consumer's utility function is U(F0, F1) = F00.6F10.4, where F0 represents food consumed this year and F1 represents food consumed next year. For that utility function, the marginal utility of food consumed this year is 0.6 × (F1/F0)0.4 and the marginal utility of food consumed next year is 0.4 × (F0/F1)0.6. Which of the following expressions gives the consumer's marginal rate of substitution for food this year with food next year (MRS01)?

Which of the following reasons explains why rich countries persistently restrict textile imports from poor countries?

A) The trade restrictions make textile consumers better off. B) The trade restrictions make workers in poor countries better off. C) The trade restrictions benefit an organized visible special interest in rich countries. D) Rich countries have a strong need for the revenue from these trade restrictions.

Antitrust laws allow the U.S. government to do all of the following except _____.

(A) Stop firms from selling new products. (B) Watch and regulate industry. (C) Break up existing monopolies. (D) Stop firms from forming monopolies.