A barter arrangement simply means
A) the government has paid for the goods.
B) a promise to pay in the future.
C) that gold must be offered from one party.
D) a direct exchange of goods without the use of money.
D
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Suppose a consumer is spending all of his/her income on two goods, A and B, in a manner where MUa = 15 and MUb = 80, and the Pa = $5 and the Pb = $20 . Then the consumer:
a. is maximizing his/her utility. b. should increase his/her purchases of B and decrease the purchases of A. c. should spend more money on both goods. d. should spend less money on both goods. e. should increase the purchases of A and decrease the purchases of B.
In order to maximize profits, a firm should produce the level of output at which total revenue is maximized
a. True b. False Indicate whether the statement is true or false