A typical diminishing marginal utility curve may be drawn as a(n).  

  A robot that flips hamburgers and French fries can be leased for $2,500/month. The robot takes the place of a worker who can produce the same amount of each good for $2,900/month. Fast-food restaurants that sell burgers and fries should hire __________ robots and __________ workers.  

  The fact that diamonds command a much higher market price than a gallon of water indicates that  

  As a result of __________ in a market with a small number of firms, a firm’s market share is determined by the products it offers, the prices it charges, and the actions of its rivals.  

  A(n) __________ represents a combination of two goods that will provide the same level of utility to the consumer.  

  When two or more firms set prices or quantities in unison, economists refer to them as a  

  Along any major street in a large city, prices for regular unleaded gasoline are very similar. The similarity of prices does not occur because of collusion; it results when one carrier sets a fare, and the other carriers feel compelled to match it. This is an example of  

  X has a comparative advantage over Y in producing a good if  

  If a firm is expanding and needs to hire more workers, the __________ curve for labor in the surrounding area will shift __________ causing the equilibrium wage to __________ and the equilibrium quantity of workers to __________.  

  The Organization of Petroleum Exporting Countries (OPEC) is considered a cartel by economists because the