If total utility is increasing, marginal utility:
A. is positive but may be either increasing or decreasing.
B. must also be increasing.
C. may be either positive or negative.
D. will be increasing at an increasing rate.
A. is positive but may be either increasing or decreasing.
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Barylia is an economy with extractive institutions such as the absence of private property rights and high tax rates. Is it guaranteed that Barylia will always experience no growth or negative growth? Why or why not?
What will be an ideal response?
Which of the following is an example in which "the big tradeoff" can occur?
A) The government redistributes income from the rich to the poor. B) Ford increases the price of a pickup truck. C) A basketball player signs a $5 million contract. D) A college lowers tuition. E) The price of personal computers falls year after year.