Peanuts are $3 per pound and cashew nuts are $5 per pound. If the marginal utility from consuming the last pound of cashew nuts equals 15 utils, then the marginal utility from consuming the last pound of peanuts in consumer equilibrium should equal:
a. 18 utils.
b. 15 utils.
c. 9 utils
d. 5 utils.
c
You might also like to view...
If demand is price elastic, a decrease in price results in a(n)
a. decrease in total expenditure on the good b. unfavorable shift in tastes and preferences c. decrease in total cost for the seller d. increase in supply of the good e. increase in total revenue to the seller
Which of the following indicates the number of workers who are willing to work but are unemployed at the optimal union wage rate in Figure 31.1?
A. 22. B. Zero. C. 14. D. 6.
Recall the Application about using value added to measure the size of Walmart to answer the following question(s). Explain why we should use Walmart's value added, not its sales, when analyzing its impact on the U.S. economy.
What will be an ideal response?
Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2013 and 2015
A) 23.8% B) 40% C) 42.9% D) 73.3%