Tom's marginal utility from a Sobe exceeds his marginal utility of crackers. Therefore, his total utility of Sobe must exceed his total utility of crackers

When retail bicycle dealers advertise and perform warranty repairs but do not deliver the personal selling message that Schwinn has designed as part of the marketing plan but cannot observe at less than prohibitive cost, the manufacturer has encountered a problem of ____

a. reliance relationships b. uncertainty c. moral hazard d. creative ingenuity e. insurance reliance

Whether exchange is between individuals, firms, or countries, voluntary trade occurs because:

a. only one party is made better off. b. both parties are made better off. c. financial agents devote resources to arranging such trades. d. these trades create employment for the economy. e. of mandates from the government.