Tony spends $36 per month on cookies. For him, chocolate chip cookies and peanut butter cookies are perfect substitutes. Chocolate chip cookies are $4 per dozen and peanut butter cookies are $3 per dozen
How many dozen of each type of cookie will Tony buy in a given month if he wants to maximize his utility?
Tony will by no chocolate chip cookies and 12 dozen peanut butter cookies.
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When the city of Fresno holds a referendum to determine if taxes will be raised to pay for road repairs, the city is using a ________ allocation method
A) majority rule B) market price C) contest D) personal characteristics E) command
A bank has a 10 percent reserve requirement, $36,000 in loans, and has loaned out all it can given the reserve requirement
a. It has $3,600 in deposits. b. It has $32,400 in deposits. c. It has $39,600 in deposits. d. It has $40,000 in deposits.
Once the breakeven level of sales has been reached, each additional book sold earns ________ for the publisher.
A. a substantial, positive additional profit B. a small, negative additional profit C. nothing D. a decreasing, but positive additional profit
It is necessary for all economic systems to provide people with goods and services and also restrict them from getting as much of these goods and services as they wish, because failure to do this could ________ the efficiency of the system by producing
some goods and services that are ________. A) reduce; not as highly valued as others B) increase; not as highly valued as others C) reduce; valued more than others D) increase; valued more than others