The marginal utilities associated with the first 5 units of consumption of good Y are 15, 15, 10, 7, and 3, respectively. What is the total utility associated with those 5 units?

In the long run, there are no fixed costs

a. true b. false

According to your textbook, changes in supply and demand reflect changes in

A) society's overall welfare. B) the plans that buyers and sellers are making. C) the overall efficiency of the market. D) government policy. E) None of the above.