Suppose a little girl likes peanut butter and jelly sandwiches with exactly 2T of jelly and 1T of peanut butter. Suppose further that her mom agrees to make sandwiches to those exact specifications and the price of peanut butter is $.25/T and the price of jelly is $.10/T. If she has $1.80 to spend on peanut butter and jelly ingredients (ignore the bread) in a week, how many sandwiches will she
make?
a. 1
b. 2
c. 4
d. 8
c
You might also like to view...
Suppose the U.S. dollar weakens against the euro (and against other major currencies). This weakening of the dollar will cause which of the following to occur?
A) The aggregate demand curve will shift to the right and the short-run aggregate supply will shift to the right. B) The aggregate demand curve will shift to the left and the short-run aggregate supply will shift to the right. C) The aggregate demand curve will shift to the right and the short-run aggregate supply will shift to the left. D) The aggregate demand curve will shift to the left and the short-run aggregate supply will shift to the left.
Allocative efficiency occurs when the:
A. minimum of average total cost equals average revenue. B. marginal revenue equals marginal benefit to society. C. minimum of average total cost equals marginal revenue. D. marginal cost equals the marginal benefit to society.
Avner is maximizing total utility by buying sports magazines and protein supplements. For him to buy more sports magazines
A) the price of protein supplements has to fall. B) the price of sports magazines has to fall. C) the price of sports magazines has to rise. D) Since Avner is maximizing his utility, nothing can change the consumption of sports magazines.
All of the following are characteristics of a bond except
A) a bond represents a promise to repay a fixed amount of funds. B) the face value is repaid when the bond matures. C) the coupon payment is the interest payment on the bond. D) bonds generally pay dividends each year.