If the cost were greater than the marginal benefit of a good:
A. consumers could increase their utility by buying less.
B. social net benefit would be maximized.
C. consumers could increase their utility by buying more.
D. producers should increase production.
Answer: A
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The Social Security Administration estimates that the Social Security Trust Fund will ________ and that the Medicare Trust Fund will ________
A) become fully funded by 2036; become fully funded by 2024 B) continue to get smaller as the number of retirees increases; start to grow once funds from Obamacare are funneled to the program C) grow slowly as more workers retire; decline slowly as medical costs rise D) run out of funds in about 20 years; run out of funds in about 10 years
The above figure shows the reaction functions for two pizza shops in a small isolated down. The Stackelberg leader will produce
A) 25 pizzas. B) 50 pizzas. C) 66.7 pizzas. D) 100 pizzas.