Tom spends $20 a month on CDs and magazines. The price of a CD is $6 and the price of a magazine is $4. When Tom maximizes his utility, the marginal utility from CDs is ________ the marginal utility from newspapers

The consumer price index tries to gauge how much incomes must rise to maintain

a. an increasing standard of living. b. a constant standard of living. c. a decreasing standard of living. d. the highest standard of living possible.

Introduction of the Verson Stamping Machine helped firms in the automobile industry:

A. eliminate diminishing returns in production. B. achieve greater economies of scale. C. reach their minimum efficient scale at a lower level of production. D. shift their AVC, ATC, and MC curves upward.