A basic purpose of macroeconomics is to explain:
A. Why businesses pollute.
B. How businesses choose the profit-maximizing rate of output.
C. Why the economy expands or contracts.
D. How and why countries trade with each other.
C. Why the economy expands or contracts.
Economics
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The table above shows the total utility from the two goods Freddy likes to consume. Suppose that Freddy has already eaten 5 bags of Fritos. If he consumes one more bag, his marginal utility will
A) equal 40. B) equal 35. C) equal 15. D) depend on the price of the extra bag.
Economics
According to the market data for good X in the above table, a stable equilibrium price is established at
A) $2. B) $4. C) $6. D) $8.
Economics