Author Question: Liz's marginal utility for two different goods is determined by A) her average utility for the ... (Read 42 times)

audragclark · **on:** Jun 29, 2018

Liz's marginal utility for two different goods is determined by

A) her average utility for the two goods.
B) how much benefit she gets from another unit of each of those goods.
C) summing her total utility from consumption of each good and then dividing by two.
D) All of the above answers are correct.

Question 2

Which of the following are reasons economists consider valid for trade protection?

I. Protection penalizes countries that have weak environmental standards.
II. Protection limits dumping of low-wage jobs into the domestic economy.
III. Protection prevents low-wage jobs in foreign countries from lowering wages in the United States.
A) I and II
B) II and III
C) I, II, and III
D) none of the above