The total benefit that a person receives from the consumption of goods and services is called
A) total utility.
B) marginal utility.
C) marginal cost.
D) opportunity cost.
A
Economics
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If 2009 is the reference base period, what is the price index for the CPI basket of goods for 2015 in the above table?
A) 97.3 B) 102.8 C) 128.0 D) zero because the price of Blu-rays fell and the price of water increased
Economics
Perfect competition has all of the following features except
a. large number of firms b. goods that are perfect substitutes c. no barriers to entry d. brand loyalty e. firm has insignificant market share
Economics