The table above shows Tom's total utility from milkshakes and sodas. A milkshake costs $2.00. What is the marginal utility per dollar spent when the eighth milkshake is purchased?

A rational choice is one that

A) must be made with perfect information. B) is made in the social interest rather than the self-interest. C) creates no costs for the decision maker. D) always turns out for the best for the decision maker. E) uses the available resources to most effectively satisfy the wants of the person making the choice.

Suppose an oligopoly has a dominant firm that sets the price for the entire industry. In this situation, the oligopoly has:

a. nonprice competition. b. a kinked demand curve. c. price leadership. d. a cartel.