A contract
a. is an example of a side payment
b. eliminates the possibility of simultaneous exchange
c. is worthless unless it refers to a perfectly competitive market
d. often requires one party to do something first, and the other party to do something later
e. can be enforced through the application of criminal law
D
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If on Monday you can buy 13 Mexican pesos per U.S. dollar and on Wednesday you can buy 15 Mexican pesos per U.S. dollar,
a. both the U.S. dollar and the Mexican peso have appreciated b. both the U.S. dollar and the Mexican peso have depreciated c. the U.S. dollar has appreciated and the Mexican peso has depreciated d. the U.S. dollar has depreciated and the Mexican peso has appreciated e. the Mexican peso has appreciated and the U.S. dollar has remained constant
Movement along an indifference curve causes the loss in marginal utility (MU) of one good to ____ the marginal utility (MU) gained from another good
a. exceed b. reduce c. equal d. maximize