The marginal utility of a third skirt is
A) three times the average utility of the three skirts.
B) three skirts times the price of a skirt.
C) the total utility of three skirts divided by three.
D) the change in total utility from the third skirt.
D
Economics
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The cross elasticity of demand for butter and margarine is likely to be
A) positive because they are substitutes. B) positive because they are complements. C) negative because they are substitutes. D) negative because they are complements. E) positive because they are normal goods.
Economics
Which of the following types of government spending is included when calculating GDP?
A) spending at the federal level B) spending at the state level C) spending at the municipal level D) all of the above E) only A and B
Economics