The government buts new weapons systems. The manufacturers of weapons pay their employees. The employees spend this money on goods and services. The firms from which the employees buy the goods and services pay their employees. This sequence of events illustrates

The schedule of the amount of a product that consumers would be willing to purchase at alternative prices during a specific time period is the

a. total utility schedule. b. marginal utility schedule. c. supply schedule. d. demand schedule.

When a monopolist is producing the profit-maximizing rate of output, price is greater than the marginal cost of producing the last unit of output

Indicate whether the statement is true or false