Your marginal utility from a hamburger
A) is always greater than your total utility from hamburgers.
B) is always greater than your average utility from a hamburger.
C) is always greater than the price of a hamburger.
D) depends on how many hamburgers you've already eaten.
D
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In the simple deposit expansion model, if the banking system has excess reserves of $75, and the required reserve ratio is 20%, the potential expansion of checkable deposits is
A) $75. B) $750. C) $37.50. D) $375.
If both the marginal cost and the average variable cost curves are U-shaped, which of the following is true over the range of output for which the average variable cost curve has a negative slope? a. The marginal cost curve must have a negative slope
b. The average total cost curve must have a negative slope. c. The marginal cost curve is below the average variable cost curve. d. both (b) and (c) are correct.