A local restaurant offers an "all you can eat" ribs special. You pay $11.95, and then you can eat as many servings as you desire at no additional cost. It would follow that you will stop eating when:
a. your marginal utility (or value) derived from eating another serving is zero.
b. your total utility (or value) derived from all of the servings consumed just equals $11.95.
c. your marginal utility (or value) derived from another serving equals $11.95.
d. it is physically impossible for you to eat any more.
a
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________ countries tend to depend on tariffs for a relatively large part of their government revenue
A) Developed B) Developing C) All
This graph shows the marginal cost and marginal benefit associated with roadside litter clean up. Assume that the marginal benefit curve and marginal cost curve each have their usual slope.
Picking up the 20th bag of litter would:
A. be socially efficient, but would not be consistent with the actions of self-interested individuals. B. be socially efficient. C. create deadweight loss. D. increase total economic surplus.