If MU a /P a = 100/$35 = MU b /P b = 300/? = MU c /P c = 400/?, the prices of products B and C in consumer equilibrium:
A. cannot be determined from the information given.
B. are $105 and $140 respectively.
C. are $105 and $175 respectively.
D. are $100 and $200 respectively.
Answer: B
You might also like to view...
Refer to Scenario 14.1. Marco and Lisette decide to help each other out and agree to split any medical bills from their doctor
With this new arrangement, Marco's dominant strategy is to schedule ________, and Lisette's dominant strategy is to schedule ________, A) 1 visit; 1 visit B) 1 visit; 2 visits C) 2 visits; 1 visit D) 2 visits; 2 visits
Positive economic analysis is supposed to be
A) true. B) free of value judgments. C) just and fair. D) moral and honest.
The Great Recession ended in June 2009 but the peak in unemployment occurred in _____________.
A. August 2009 B. October 2009 C. January 2010 D. March 2010
Assume the demand for automobile tires is highly inelastic and that the supply is highly elastic. The burden of a $2 excise tax on each tire will be:
A. borne by resource suppliers that provide the inputs for manufacturing tires. B. shared about equally by buyers and sellers of tires. C. borne primarily by buyers of tires. D. borne primarily by sellers of tires.