Is utility constant along a demand curve? Is every point along a demand curve associated with a consumer equi?

[bernd]

*You get to open your own business! You can be creative in who you are (a business person, a lawyer, etc.) and in what goods or services you want to provide for people. Which type of business would you open (sole proprietorship, partnership, etc.)? Why is this type of business the best type of business for you? (Think about the advantages this business type provides, given your profession and the goods/services you provide.) How would you go about opening this business?

*Cindy states, “The bigger the firm, the more cost advantages they have over the littler firms in an industry.” Is this true? How would you respond, now that you are taking a class in microeconomics?

*Is utility constant along a demand curve? Is every point along a demand curve associated with a consumer equilibrium? Explain your response.

*How might studying for the midterm exam be related to the law of diminishing marginal returns? What would be the fixed input, the variable input, and the output?