If the marginal utilities of the first 4 candy bars consumed are 10, 12, 9, and 7, respectively, the total utility derived from consuming 3 candy bars is
a. 3
b. 9
c. 25
d. 31
e. Total utility cannot be derived from marginal utility. On the other hand, marginal utility can be derived from total utility.
D
Economics
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Approximately _____ percent of state and local spending in 2007 was for the purchase of goods and services
a. 90 b. 72 c. 40 d. 15 e. 5
Economics
Tom obtains a car loan from Old Town Bank.
A. The car loan is Tom's asset and the bank's liability. B. The car loan is Tom's asset, but the liability belongs to the bank's depositors. C. The car loan is Tom's liability and a liability of the bank until Tom pays it off. D. The car loan is Tom's liability and an asset for Old Town Bank.
Economics