If a product has a diminishing, but positive, marginal utility, then total utility

Predatory pricing, as defined in the text, is

A) common and profitable but illegal. B) common, profitable, and legal. C) common but both unprofitable and illegal. D) common and legal but unprofitable. E) rarely observed though often alleged.

The two major reasons for the tremendous growth in output in the U.S. economy over the last 125 years are

A) population growth and low inflation. B) population growth and increased productivity. C) low unemployment and low inflation. D) low inflation and low trade deficits.