The table above gives Cathy's total utility from Mt. Dew. Cathy's marginal utility from additional Mt. Dews is

Recall the Application. If the organization in New Zealand was successful in getting the Olympics to include sheep shearing as a spectator sport, and this helped to raise the world price of wool, the quantity of wool supplied would ________ because

the market supply curve for wool is ________ sloped. A) decrease; negatively B) increase; negatively C) increase; positively D) decrease; positively

The nominal price of industrial red paint was $12 per gallon in 1993. To convert this value to the real price of paint in 2012 dollars, we should use the:

A) Consumer Price Index. B) Producer Price Index C) Fed funds rate. D) 30-day T-bill rate.