Author Question: Which of the following is a step that economists take in order to examine a real-world issue? a. ... (Read 105 times)

cartlidgeashley · **on:** Jun 30, 2018

Which of the following is a step that economists take in order to examine a real-world issue?
a. Determine the results that will occur if the market being considered is a controlled market
b. Look at the real-world results to see the similarities they hold with the results of a free market
c. Suggest remedies and policies to alter the results of a free-market
d. Suggest remedies or policies to alter the real-world result
e. Assume that the market transactions, in a real-world, is completely controlled by the government

Question 2

The amount of added utility that an individual derives from consuming one more unit of a good or service is called:
a. total utility.
b. marginal utility.
c. average utility.
d. diminishing utility.