Assume that Kelly has the preferences shown in the above table. Also assume that the price of a can of Pepsi is $3.00 and that the price of a slice of pizza is $1.00. If she has $16 available to spend, what combination of Pepsi and pizza will be her consumer optimum?
A. 4 cans of Pepsi, 4 slices of pizza
B. 4 cans of Pepsi, 1 slice of pizza
C. 2 cans of Pepsi, 4 slices of pizza
D. 3 cans of Pepsi, 2 slices of pizza
Answer: A
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A) plus government expenditure on goods and services plus imports of goods and services. B) minus government expenditure on goods and services minus imports of goods and services. C) plus government expenditure on goods and services plus exports of goods and services. D) plus government expenditure on goods and services plus exports of goods and services minus imports of goods and services. E) plus government expenditure on goods and services plus exports of goods and services plus imports of goods and services.
Refer to the scenario above. Which of the following will you choose in order to maximize return?
A) Plan 1 B) Plan 2 C) Plan 3 D) Plan 4
In the above figure, if this natural monopoly is not regulated the deadweight loss to society is
A) ecf. B) ebc. C) gac. D) gde.
Which of the following would not cause a shift in the supply curve for a good?
a. An increase in demand for that good. b. An increase in the cost of labor used to produce that good. c. A change in the cost of raw materials used to produce that good. d. A decrease in the cost of machinery used to produce that good.