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The answer to marginal utility
1. simple dispensing machines offer opportunites for consumers to take numerous copies for the price of 1 copy. why do consumers usually take only one copy?
2. the price of a seasonal pass to six flags great adventure is not much more than a weekly pass. why is this a reasonable pricing policy?
3. Tim eats only burgers and tacos. in equilibrium, his marginal utility of burgers is 20 and his marginal utility of tacos is 10. The price of burgers is $4. what is the price of a taco?
Illustrate what is the difference among nominal and real quantities and why make the distinction.
Suppose elasticity is -2,price is $10, and marginal cost is $8, should you raise or lower price?
Explain how to describe price elasticity of demand. What are the factors that affect price elasticity of demand.
Expansion and contraction are commonly utilize terms in economics and the media.
Illustrate the difference among dollarization, a currency board, and a fixed exchange rate regime. Do you know of any countries that have recently adopted dollarization.
Suppose there is an increase in risk aversion by wealth holders in the sense that, other things equal, they want to hold more of their wealth in money (bank deposits) and less in securities.
What is the difference between the medium of exchange and the store of value? What is the difference between commodity money and fiat money?
Compute the marginal cost and marginal revenue of each unit of output and enter these figures in the table.
What would be the effects on employment and unemployment given the actions taken by the Fed.
What do you think it should have been a good idea for these airlines to cut their frequent-flyer programs in order to earn higher profits.
Explain how does a business describe whether to increase or decrease the price of the product it sells in order to increase revenue
For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
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