An "all you can eat" restaurant illustrates the economic principle:
a. of consumers' inability to maximize their total utility.
b. that economic theory clearly breaks down under certain circumstances.
c. that marginal utility is always positive.
d. that consumers will stop eating when marginal utility is zero.
e. that consumers will stop eating when total utility is zero.
d
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All of the following are examples of price discrimination EXCEPT
A) buy-one-get-one-free offers. B) "early bird specials" at a restaurant. C) lower ticket prices for matinee performances. D) "buy now, pay later" payment options.
If a country's population (age 16 and over) is 50 million, with 2 million unemployed and 23 million currently holding jobs, the
a. unemployment rate is 4 percent, and the labor force participation rate is 46 percent. b. unemployment rate is 8.0 percent, and the labor force participation rate is 50 percent. c. unemployment rate is 4 percent, and the labor force participation rate is 50 percent. d. unemployment rate is 8.7 percent, and the labor force participation rate 50 percent.