Marginal utility is
a. the difference in price between one store and another.
b. the difference in value between "some" of a thing and "none" of a thing.
c. the difference between any two successive total utility figures.
d. acquired only with the first few units of a good or service.
e. utility that is barely satisfactory.
c
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The demand curve for the product of a monopolistically competitive firm slopes downward because
A) products are perceived by consumers as different. B) products are homogeneous. C) people only care about price when they buy a good. D) the firm's goal is to maximize profits.
Adverse selection can arise in employment situations if information about worker quality is:
a. better for employees than employers. b. better for employers than employees. c. perfect. d. available at a low enough cost.