If the market demand curve in a perfectly competitive industry shifts left, the demand curve for each existing firm will:
a. shift up

When we hear on the news, "The Fed has increased interest rates today," the Fed has most likely

A) raised the required reserve ratio. B) sold government bonds. C) lowered the discount rate. D) bought government bonds.

Sonya's budget for magazines and chocolate bars is $50. Her marginal utility from these goods is shown in the table above. The price of a magazine is $5 and the price of a chocolate bar is $2.50

Sonya currently buys 4 magazines and 12 chocolate bars. To maximize her utility, she should A) buy more chocolate bars and fewer magazines. B) buy more magazines and fewer chocolate bars. C) buy more of both goods. D) stay with the current combination of goods.