Suppose Barry is maximizing his utility from consuming used paperback novels and audio books. The price of a used novel = $4 and the price of an audio book = $8. If the marginal utility of the last novel was 32 units of utility (utils) what was the

According to Walton and Rockoff, the recession of 1937 and 1938 could be attributed to ______ and ______

a. the decline in world trade fostered by German and Japanese policies of self sufficiency, open market gold sales by the Federal Reserve b. increases in taxes, open market gold sales by the Federal Reserve c. increases in taxes, increases in bank required reserve ratios d. the decline in world trade fostered by German and Japanese policies of self sufficiency, increases in bank required reserve ratios

In the long-run, a monopoly is most likely to achieve

a. An average rate of return b. Above average profits c. Economic Profits d. Both B&C