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Author Question: The total utility from three skirts is A) three times the marginal utility of the third skirt. ... (Read 9 times)

audragclark

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on: Jun 29, 2018
The total utility from three skirts is
 
  A) three times the marginal utility of the third skirt.
  B) three times the price of a skirt.
  C) three skirts divided by total income.
  D) the sum of the marginal utility of the first skirt plus the marginal utility of the second skirt plus the marginal utility of the third skirt.

Question 2

List and define the three types of unemployment.
 
  What will be an ideal response?


eliasc0401

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The three types are frictional, structural and cyclical. Frictional unemployment is defined as the normal turnover in the labor market of workers entering and leaving the work force. Structural unemployment is caused by technological change or international competition that causes jobs to disappear. Cyclical unemployment is caused by business cycle fluctuations that change the unemployment rate.


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