Liz's marginal utility for two different goods is determined by
A) her average utility for the two goods.
B) how much benefit she gets from another unit of each of those goods.
C) summing her total utility from consumption of each good and then dividing by two.
D) All of the above answers are correct.
B
Economics
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At the midpoint of a linear, downward-sloping demand curve, the price elasticity of demand is
A) greater than one. B) equal to one. C) less than one but greater than zero. D) zero. E) infinite.
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The key decision maker for general Federal Reserve policy is the:
A. Federal Open Market Committee. B. Board of Governors. C. Federal Advisory Council. D. Regional Federal Reserve banks.
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