If purchasing power parity tells us that if the exchange rate is a pound for a dollar, then price of a haircut in London should cost the same as a haircut in New York

What are common resources?

a) both rival in consumption and nonexcludable b) both rival in consumption and excludable c) both nonrival in consumption and excludable d) both nonrival in consumption and nonexcludable

Total utility is best defined as the

A. additional satisfaction received from consuming an additional unit of a good or service. B. maximum amount of satisfaction from consuming a product. C. change in marginal utility multiplied by the price of a product. D. total satisfaction received from consuming a good, service, or combination of goods and services.