If it costs $6.00 to go to the movies and $25.00 to go to a hockey game, Tom is maximizing his utility between movies and hockey if his marginal utility of movies is 12 units and his marginal utility from hockey is 25

Suppose a tax equal to the value of the external cost of producing car batteries is imposed by government on all car battery manufacturers. All of the following will result from the tax except

A) an increase in demand for car batteries. B) a decrease in the market supply of car batteries. C) an increase in the equilibrium price of car batteries. D) a decrease in the equilibrium quantity of car batteries produced and consumed.

Which of the following is best characterized as being nonrivalrous?

A) consumption goods B) services C) physical capital D) knowledge