When marginal product is decreasing, marginal cost is
a. less than zero
b. equal to zero
c. constant
d. decreasing
e. increasing
E
Economics
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The above figure shows the marginal benefits and marginal costs of a college education. If no subsidies are paid, enrollment equals
A) 0. B) 10 million. C) 15 million. D) 25 million.
Economics
The income-consumption curve for Dana between Qa and Qb is given as: Qa = Qb. His budget constraint is given as: 120 = Qa + 4Qb How much Qa will Dana consume to maximize utility?
A) 0 B) 24 C) 30 D) 60 E) More information is needed to answer this question.
Economics