Which situation is consistent with the law of diminishing marginal utility?
A. The more pizza Joe eats, the more he enjoys an additional slice
B. The more pizza Joe eats, the less he enjoys an additional slice
C. Joe's marginal utility from eating pizza becomes positive after eating three slices
D. Joe's marginal utility from eating pizza reaches a maximum when total utility is zero
B. The more pizza Joe eats, the less he enjoys an additional slice
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New England's exports went primarily to
a. the United Kingdom. b. continental Europe. c. the West Indies. d. Africa.
In one year, you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year. What percentage of the unemployment spells you encountered was short term, and what percentage of the unemployment you encountered in a given week was long term?
a. 52% was short term; 13.3% was long term b. 52% was short term; 88.9% was long term c. 86.7% was short term; 13.3% was long term d. 86.7% was short term; 88.9% was long term