If Ann's utility function is U = W0.5, and she invests in a business which can yield $6,400 with probability 1/5, and $3600 with probability 4/5, then her expected utility is

What does marginal cost equal?

a. total output divided by the change in total cost b. total cost divided by quantity of output produced c. the change of total cost divided by the change of output d. average cost divided by output

The more that firms in an economy believe that the demand for their goods is mainly influenced by the aggregate level of demand and not "local conditions," the ________ is the SAS curve and thus the ________ are cycles in real GDP

A) steeper, larger B) steeper, smaller C) flatter, larger D) flatter, smaller