The law of diminishing marginal utility explains why people and societies rarely make all-or-nothing choices

Over the course of the twentieth century, the typical American

A) remained equally as rich. B) became twice as rich. C) became five times as rich D) became eight times as rich.

Refer to Scenario 18.1. What should the fishermen do if they know the factory will maximize profits and no negotiation is possible?

A) Install a treatment plant. B) Do not install a treatment plant. C) It makes no difference if the fishermen do or do not install a treatment plant. D) Install a filter. E) Exit the industry.