Consumers should allocate their income so that the marginal utility associated with the:
a. first dollar spent is equal for all goods.
b. last dollar spent is equal for all goods.
c. last dollar spent is lower for high-priced items than for low-priced items.
d. first dollar spent is greater for high-priced items than for low-priced items.
e. first dollar spent is less for high-priced items than for low-priced items.
b
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The government considers a market to be unconcentrated if its HHI number is less than ____, and highly concentrated if that number exceeds ____
a. 1,000 . 1,800 b. 100; 9,000 c. 50; 500 d. 500; 1,300
The cost disease of the service sector is evidenced by
a. a failure of the market mechanism. b. increased quality of public and private services. c. dramatic increases in municipal budget burdens for education, health care, and police and fire protection. d. the increased productivity in the services area.