Assume that for a given consumer, the marginal utility of wine is 100 and the price of wine is $60. Also, assume that the marginal utility of lobster is 200 and the price of lobster is $100. This consumer
A) is in equilibrium.
B) should buy more lobster.
C) should buy more wine.
D) can't tell; insufficient information given to answer the question
Answer: B
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a. Customary reserves. b. Bank equity. c. Normal reserves. d. Funny money. e. Federal funds.
Minimum-wage laws are one reason there is always some unemployment in the U.S. economy
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 8.6 below to answer the question(s) that follow. 
Figure 8.6 Refer to Figure 8.6. Outdoor Equipment's average variable costs are minimized at the output level
A. between the intersections of curves 1 and 2 and curves 1 and 3. B. where curves 1 and 3 intersect. C. where curves 1 and 2 intersect. D. indeterminate with the given information.