Once the President submits his budget to Congress, there is little that the members of the House and Senate can do to change the budget

Utility refers to how much consumers utilize a product or service.

a. true b. false

In which of the following ways is a monopolist different from a perfect competitor?

a. Average cost will continually drop as output expands. b. Price is above marginal revenue. c. Average total cost equals average fixed costs plus average variable costs. d. The demand curve for the industry has a negative slope.