Thalia has a marginal propensity to save of 30 percent. What is her marginal propensity to consume?

Which of the following firms is most likely to be a perfectly competitive firm?

a. one of the three largest U.S. automakers b. one of the "Seven Sisters" oil producers c. a public school operated by the government d. a soybean farmer e. a manufacturer of refrigerators

Answer the following statement true (T) or false (F)

1) If marginal utility is diminishing, total utility must also be declining. 2) Marginal utility is total utility divided by the number of units consumed. 3) When total utility is at a maximum, marginal utility is zero. 4) When a consumer shifts purchases from X to Y, the marginal utility of X falls and the marginal utility of Y rises.