A firm engaging in rent seeking activity
A) is breaking the law.
B) is willing to spend up to the gain in producer surplus.
C) is irrational.
D) increases societal gain.
B
Economics
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The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10 and Jane's budget is $88. What is Jane's marginal utility per dollar spent on magazines at her consumer equilibrium?
A) 36 units B) 15 units C) 9 units D) 5 units
Economics
The more bowed out the Lorenz curve, the
A) less equal the income distribution. B) more equal the income distribution. C) greater the overall wealth in the economy. D) less the overall wealth in the economy.
Economics