Refer to the above table. If the price of a hamburger is $2, the price of a concert ticket is $60, and the consumer has $128, what is the consumer optimum?

A. 2 hamburgers and 2 concerts
B. 3 hamburgers and 2 concerts
C. 4 hamburgers and 2 concerts
D. 2 hamburgers and 3 concerts


Answer: C

Economics

You might also like to view...

In the market for Canadian dollars measured in US dollars, the supply of US dollars is

a. The supply of Canadian dollars b. The demand for Canadian Dollars c. The demand for US dollars d. None of the above

Economics

Which of the following is an example of a good with a highly elastic supply curve?

a. luxury goods b. tropical vacations c. pizza d. sports vehicles

Economics

The government uses the antitrust laws in place:

A. ineffectively because the laws are outdated. B. to prevent all mergers that would create market power. C. increasingly over time, as market power is getting more concentrated. D. to break up and prevent monopoly power in markets.

Economics

A ________ p-value means the probability is ________ of getting the result you find in the sample data if the null hypothesis is true.

A. small; small B. negative; certain C. positive; certain D. small; large

Economics