Stanley receives the following marginal utilities from the first four car washes that he buys each year, respectively: 20, 15, 10, and 5 . If each car wash sells for $10, then the marginal utility per dollar spent on the third car wash is

Education has an external benefit. So to achieve the efficient level of education, an education voucher must equal the difference between the

A) marginal (private) cost and the marginal social benefit. B) marginal (private) benefit and the marginal social benefit. C) marginal social benefit and the marginal (private) cost. D) dollar price and marginal (private) cost. E) marginal (private) cost and the marginal social cost.

For a given level of the money wage, an increase in the price level will cause the

a. supply of labor to rise. b. quantity of labor demanded to rise. c. price of leisure to rise. d. quantity of labor demanded to rise. e. both b and d.