Joe is maximizing utility by consuming three colas at $2 apiece and four hot dogs at $3 apiece. The last cola gave him 200 units of utility. How many units of utility did the last hot dog give him?

Price ceilings in the U.S. on retail gasoline sales in the 1970s caused

A) massive and prolonged shortages. B) increased advertising of gasoline. C) longer hours of operation at most service stations. D) poor people to be assured of an adequate supply of gasoline.

Society's demand curve for a public good:

a. is given by the horizontal summation of individual demand curves. b. is given by the vertical summation of individual demand curves. c. cannot be derived from individual demand curves due to the nature of a public good. d. is given by the average citizen's individual demand curve.