Increased saving today means
a. more consumption today and in the future
b. less consumption today and in the future
c. more consumption today and less in the future
d. less consumption today and more in the future
e. more income today, but the net effect of increased income on the balance between consumption and saving cannot be determined in advance
D
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The total willingness to pay for public restrooms in a city is given in the table below:
Number of Restrooms Total willingness to pay 1 $208,000 2 $199,000 3 $150,000 4 $85,000 If the marginal cost of building a public restroom is $208,000, how many restrooms will be built? A) 1 B) 2 C) 3 D) 4
In the DuPont cellophane case, rivals accused DuPont of monopolizing cellophane. DuPont claimed that the relevant market was flexible wrapping material, such as wax paper and aluminum foil, rather than just cellophane. DuPont won the case. What type of evidence constituted DuPont’s defense?
What will be an ideal response?