A person's utility schedule ____________ (can/cannot) change over time.
Fill in the blank(s) with the appropriate word(s).
can
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Which of the following statements contradicts an upward-sloping market-supply curve?`
a. All people have backward-bending individual supply curves. b. Leisure is more enjoyable than work. c. The elasticity of labor supply is larger than the elasticity of labor demand. d. To work more means to enjoy less leisure. e. The opportunity cost of leisure decreases with an increase in wage rate.
Refer to the table and information below. What is the total amount that the government should spend on construction projects?
A government is considering undertaking one or more construction projects. The estimated marginal costs and benefits of each project are given in the table.
A. $8 million
B. $14 million
C. $19 million
D. $37 million