Suppose that Janis is maximizing her total utility from chairs and tables. If the marginal utility of the last table she purchased is 200 utils, and the prices of chairs and tables are $50 and $100, respectively, then the marginal utility of the last chair she purchased

Many firms use technology to gather information on the preferences of consumers and their responses to changes in prices. This information is then used to adjust prices of the firms' goods and services. This practice is called

A) price discovery. B) yield management. C) empirical research. D) econometrics.

Wealth is considered to be a nonincome determinant of consumption

a. True b. False Indicate whether the statement is true or false