Bananas cost about $1 a pound and ground beef costs about $3 a pound. If Jenna has $18 to spend on groceries and she only buys bananas and beef, which of the following is a possible combination of these goods that could maximize her total utility?
A) 18 lbs of bananas and 6 lbs of beef
B) 10 lbs of bananas and 8 lbs of beef
C) 8 lbs of bananas and 3 lbs of beef
D) 3 lbs of bananas and 5 lbs of beef
D
You might also like to view...
A ________ curve means that ________
A) horizontal demand; a change in price does not change total revenue B) horizontal demand; the elasticity of demand is less than 1 C) horizontal supply; the elasticity of supply is infinite D) horizontal supply; the elasticity of demand is infinite E) vertical demand; a change in price does not change total revenue
The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates
a. True b. False Indicate whether the statement is true or false
The hot stove method of discipline includes which of the following?
a. a warning b. immediate discipline/consequence c. consistent application d. all of the above
Unlike a monopolistic firm's product, a monopolistically competitive firm's product
A. has no close substitutes. B. has many close substitutes. C. is homogeneous. D. is a unique product.