The number of markets is
A. always changing.
B. fixed.
C. variable on a local basis, but fixed on a national basis.
D. closed.
Answer: A
Economics
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The table above shows Tom's total utility from milkshakes and sodas. A milkshake costs $2.00. How much marginal utility per dollar would Tom get if he purchased the ninth milkshake?
A) 1728 units per dollar B) 20 units per dollar C) 10 units per dollar D) none of the above
Economics
Refer to the graph below. Suppose you had tastes as described by the indifference curves above. If your income was $100, Px = 20 and Py = 25, which combination of X and Y would maximize your utility?
A. 5X and 0Y
B. 0X and 4Y
C. 3X and 1Y
D. 5X and 4Y
Economics