Modern information technology allows a great deal of information to be collected, stored, searched, and rapidly retrieved. Give an example of how this capability benefits society.

What is the rule relating the ratio of marginal utility to prices of two goods at the optimal choice? explain why, if this rule does not hold, the choice cannot be utility-maximizing.

On a production possibility curve, data points that fall outside of the curve represent what

Cooperation among oligopolies runs counter to the public interest because it leads to underproduction and high prices. in an effort to bring resource allocation closer to the social optimum, public officials attempt to force oligopolies to compete instead of cooperating. consider the following scenario: suppose that the presidents of two auto manufacturing companies exchange text messages in which they discuss jointly raising prices on their new lines of hybrid suvs. this illegal communication would violate which of the following laws? the sherman antitrust act of 1890 the robinson–patman act of 1936 the celler–kefauver act of 1950 the clayton act of 1914