The textbook reveals the secret of French cuisine. It is that
a. French food is highly nutritious and its taste creates high total utility
b. they provide only small portions of many courses so that the marginal utility of each course is high
c. they provide large portions of few courses so that the total utility of the meal is high
d. they provide large portions of many courses so that both the marginal and total utility of each course offered in the meal is high
e. time matters; the French meal lasts for hours, increasing the total utility of the meal
B
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The increased costs of transactions caused by inflation are known as _____
a. menu costs b. shoe-leather costs c. unit-of-account costs d. direct costs
An decrease in the price of oranges would lead to a(n)
a. increased supply of oranges. b. increase in the prices of inputs used in orange production. c. a movement down and to the left along the supply curve for oranges. d. a movement up and to the right along the supply curve for oranges.