Auxiliary Problems for Chapter 19
1. What is the difference between total utility and marginal utility?
2. What is meant by diminishing marginal utility?
3. Movie theaters often give discounts to children, seniors and daytime patrons. Why?
4. Biff, Stan a
Auxiliary Problems for Week 5
1. There are 12 able-bodied adults on an otherwise deserted island. Eight of the adults work
toward the sustenance of the group (i.e., have a job). Two of the adults wish to work
toward this end but have not yet found a way t
1. To determine the economic profit of a company,
Implicit costs are added to explicit costs.
Implicit costs are subtracted from total revenues.
Total economic costs are subtracted from total revenues.
Explicit costs are subtra
Auxiliary Problems 2 Week 3
1. In week one, mens leather shoes sold for $69/pair. The shoe store ran a special the second
week and mens leather shoes were marked down to $59/pair. Sales rose from 116 pairs to
132 pairs. Assuming all other economic conditi
Week 4 GDP
1. Per capita GDP will definitely fall if
A. The population falls.
B. The rate of economic growth falls.
C. The rate of economic growth is less than the rate of population growth.
D. There is a decrease in the size of the labor force.