The change in total utility due to a 1-unit change in the quantity consumed is:
a. marginal utility.
b. average utility.
c. per capita utility.
d. total utility.
e. the principle of diminishing marginal utility.
a
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The public sector of the U.S. economy includes:
a. the federal, state, and local government. b. multinational corporations and the federal government. c. the Federal Reserve bank of the U.S. d. the judiciary and the federal government. e. households.
An entrepreneur is considering how many limousines to purchase when he starts up a limousine service. Below are his estimates of the number of limousine rentals the service will make during a year, depending on the number of limousines available.Number oflimousinesTotal numberof rentals13502650390041,10051,250After paying all non-interest expenses, the owner expects to net $10 per rental. Each limousine costs $50,000. How many limousines should he purchase if the real interest rate is 4.5%?
A. 4. B. 2. C. 3. D. 1.