Economists use a preference map to illustrate that
A) more is better than less.
B) preferences are transitive.
C) preferences are complete.
D) All of the above.
D
Economics
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Ricky is in a consumer equilibrium. Given the prices of goods, Ricky has allocated all his income such that his marginal utility per dollar spent is ________ for ________ goods
A) as small as possible; all B) equal; all C) equal; normal D) maximized; all
Economics
The value of marginal product equals ________ multiplied by ________
A) the good's market price; marginal cost B) the good's market price; marginal product C) marginal cost; marginal product D) marginal revenue; total product
Economics