By the method of Lagrange multipliers, the optimal value of the Lagrange multiplier equals the:
A) marginal utility of income.
B) marginal utility of each good.
C) marginal utility per dollar spent on the last unit of each good.
D) A and B above
E) A and C above
E
Economics
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As of 2005 the European Union had:
a. 5 members. b. 15 members. c. 25 members. d. 40 members.
Economics
If a component of aggregate demand increases,
A) GDP in the United States is likely to increase less than that component of spending increased. B) GDP in the United States is likely to increase more than that component of spending increased. C) GDP in the United States is likely to decrease. D) GDP in the United States will not change.
Economics