Total utility can be calculated as the
a. difference between all marginal utilities
b. price paid for one good
c. sum of all marginal utilities
d. total expenditure on all units of the good the consumer buys
e. difference between the marginal utilities of the first and last units
C
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The discovery of new oil deposits will cause
A) the long-run aggregate supply curve to shift to the right and the short-run aggregate supply curve to shift to the left. B) the long-run aggregate supply curve to shift to the right, but not the short-run aggregate supply. C) the short-run aggregate supply curve to shift to the right, but not the long-run aggregate supply curve. D) both the long-run and the short-run aggregate supply curves to shift to the right.
Energy conservation is a shift in economic activities to make the use of energy less costly.
Answer the following statement true (T) or false (F)