Use the figure below to answer the following question.
The marginal benefit of the second unit of X is ________.
A. 17
B. 4
C. 5
D. 11
Answer: C
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Teddy buys only chocolate chip cookies and hot chocolate and spends all of his income on the two items. Suppose the price of a cookie rises. According to marginal utility theory, Teddy will buy
A) more cookies and less hot chocolate, which decreases his marginal utility from cookies and increases his marginal utility from hot chocolate. B) more cookies and less hot chocolate, which increases his marginal utility from cookies and decrease his marginal utility from hot chocolate. C) fewer cookies and more hot chocolate, which decreases his marginal utility from cookies and increases his marginal utility from hot chocolate. D) fewer cookies and more hot chocolate, which increases his marginal utility from cookies and decreases his marginal utility from hot chocolate.
Which of the following is not an example of an economic policy that affects the level of unemployment?
A. Minimum wage law. B. At-will employment policies. C. Title IX. D. Efficiency wages.