Refer to Table 10-7. What is Antonio's marginal utility from consuming the fifth beer?
A) 4 utils B) 13.6 utils C) 69 utils D) 134 utils
A
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In a labor market, employment
A) and the wage rate are higher when the market is a monopsony than when the market is competitive. B) is higher and the wage rate is lower when the market is a monopsony than when the market is competitive. C) is lower and the wage rate is higher when the market is a monopsony than when the market is competitive. D) and the wage rate are lower when the market is a monopsony than when the market is competitive.
According to public choice theorists, people behave differently in the market sector than in the public sector because
A) the more people there are in the market sector the less influence they are able to exert, whereas the more people there are in the public sector the more influence they are able to exert. B) the fewer people there are in the market sector the less influence they are able to exert, whereas the fewer people there are in the public sector the more influence they are able to exert. C) self-interest is the motivating force in the market sector, whereas altruism is the motivating force in the public sector. D) altruism is the motivating force in the market sector, whereas self-interest is the motivating force in the public sector. E) institutional arrangements are different in the two sectors.