The above table gives the total utility that Homer obtains from consuming various quantities of chocolate chip cookies. The marginal utility from the third pound of cookies is

A reduction in the rate of inflation is called:

a. deflation. b. disinflation. c. hyperinflation. d. cost-push inflation.

The short run for the industry is defined as a period

A. too brief for new firms to enter the industry. B. too brief for old firms to leave the industry. C. in which the number of firms in the industry is fixed. D. All of the responses are correct.