The rational consumer uses quantity where marginal benefit is equal to marginal cost.

Factors of production are owned solely by the households and firms in a mixed economy.

The more quantity a household consumes a product the lower the total utility becomes.

Decreasing price increases the quantity of a good needed to maximize utility.

Free market is more allocatively efficient and productively efficienct than command economy.

Increasing the budget decreases the value of marginal utility of the utility maximizing combination.

Country A has absolute advantage in making chairs and Country B has absolute advantage in making tables.

Country A has comparative advantage in making tables and Country B has comparative advantage in making chairs.

Net benefit is the difference between marginal benefit and marginal cost.

Marginal utility decreases when total utility is negative.

A good is not scarce if the opportunity cost of the good is zero.

For Jenny's current consumption, the marginal utility per dollar of a mini-burger is 0.5 and that of a coke is 2. What would you tell her to do?

John's total utility for a mini-burger and a coke is ______ utils. (Just write the number no units)

Which of these is NOT a utility-maximizing combination of goods for John to buy?

What is the value of marginal utility of Jonathan's second bottle of milk? 

How many cookies and bottles of milk must Jonathan buy to maximize his utility within the given budget?