The above table shows Homer's marginal utility from consuming various quantities of chocolate chip cookies and cake. The price of cookies is $2 per pound, the price of cake is $2 per slice and Homer has $12 to spend on cookies and cake
Homer will consume ________ of cookies and ________ of cake. A) 1 pound; 5 slices
B) 2 pounds; 4 slices
C) 3 pounds; 3 slices
D) 5 pounds; 2 slices
C
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The table below gives the quantities and prices for 2000 and 2010 for an economy that produces just two goods: sailboats and coconuts. Quantity producedPrice 2000201020002010Sailboats1020$500$525Coconuts2,0002,400$1$2For this economy that produces just sailboats and coconuts, and with 2000 is the base year, real GDP was approximately ______ times larger in 2010 than it was in 2000.
A. 1.34 B. 1.77 C. 1.65 D. 2.19
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
A decrease in wealth leads to a
A) downward movement along the supply of loanable funds curve. B) rightward shift of the demand for loanable funds curve. C) leftward shift of the demand for loanable funds curve. D) rightward shift of the supply of loanable funds curve. E) leftward shift of the supply of loanable funds curve.
Which of the following is one component of the "trilemma" that is faced by policy makers in choosing monetary arrangements?
A) exchange rate stability B) restrictions on international capital movements C) tariffs and subsidies D) restrictions on the migration of labor E) global inflation