Multiple Choice
Suppose Jack purchases four rolls of brown paper for which he receives 100 units of total utility and two quarts of vinegar for which he receives 50 units of total utility. Assuming Jack maximizes utility, if the price of brown paper is $2 a roll, the cost of two quarts of vinegar must be:
A) $1 a quart.
B) $2 a quart.
C) $0.50 a quart.
D) It is impossible to tell.
Correct Answer:

Verified
Correct Answer:
Verified
Q79: The principle of diminishing marginal utility states
Q80: The principle of diminishing marginal utility states
Q81: Suppose there is diminishing, but not negative,
Q82: Given that price is constant, the lower
Q83: Refer to the graph shown. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7145/.jpg"
Q85: Conspicuous consumption refers to the consumption of
Q86: When marginal utility of consuming a good
Q87: As long as total utility is increasing,
Q88: When the ratios of the marginal utility
Q89: Refer to the graph shown. Between points