Multiple Choice
Tom spends all his monthly income on pretzels and potato chips.Currently,he is maximizing his utility; the marginal utility of pretzels is 150,and the marginal utility of potato chips is 125.If pretzels cost $6 per box,how much do potato chips cost?
A) $2.
B) $3.
C) $4.
D) $5.
E) $6.
Correct Answer:
Verified
Correct Answer:
Verified
Q41: Points along an indifference curve represent bundles
Q42: Jamie is considering the purchase of a
Q43: A consumer buys 12 units of entertainment,measured
Q44: Consumer surplus is defined as:<br>A) the quantities
Q45: Fred loves tomatoes.He makes soups,sauces,and stews with
Q47: The consumer's optimal consumption of X and
Q48: Consider the following indifference map.The price of
Q49: Indifference curves describe:<br>A) various consumer income levels.<br>B)
Q50: Suppose Al is currently consuming four movies
Q51: Consider the indifference map below.This map represents