The price of pens is $5, and at that price consumers demand 12 pens. If the price rises to $7, consumers will decrease consumption to 4 pens. Using the midpoint formula, what is the price elasticity of demand for pens?

When marginal utility is equal to zero, total utility 

If the accounting profit for a firm is negative:

Suppose that a business incurred implicit costs of $400 and explicit costs of $5,000 in a specific year. If the firm sold 100 units of its output at $50 per unit, its accounting:

If the total utility from consuming five units of a product is 245, and the marginal utility of a sixth unit is 2, then the total utility from consuming six units would be:

The long-run average cost curve will be downward sloping when the firm is experiencing:

Which of the following holds true?

The principle of diminishing marginal utility means that when Sarah eats pizza, her satisfaction from the second slice of pizza is probably _____ that from the first.

The minimum efficient scale of a firm:

Manny spends all of his income on tacos and milkshakes. Her income is $100, the price of tacos is $10, and the price of milkshakes is $2. If Manny purchases 10 milkshakes, he can purchase _____ tacos.