Suppose the government provides peanut butter to everyone free of charge and everyone consumes it to the point at which he receives no additional satisfaction from another spoonful. According to economics, is this necessarily good? a) Yes, because everyone is satisfied b) No, because there might be some cases where the resources use to produce peanut butter could have been better used to produce more of other products. c) Yes, because of the law of diminishing marginal utility indicates that in order to get the gratest amount of satisfaction from the use of resources, people should consume as much of every good as they can. d) none of the above.

2standard deviation a particular telephone number is used to receive both voice calls and fax messages. suppose that 25% of the incoming calls involve fax messages, and consider a sample of 25 incoming calls. (a) what is the expected number of calls among the 25 that involve a fax message?

Suppose the price of frozen yogurt, a substitute for ice cream, increases. what happens to equilibrium price and quantity of ice cream? a. the price and quantity of ice cream both increase b. the price and quantity of ice cream both decrease c. the price of ice cream increases and the quantity decreases d. the price of ice cream decreases and the quantity increases

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east west sales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 ) the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss)