Casey earns $150 a week and consumes only fish and shrimp. The price of fish is $3 a pound and the price of shrimp is $5 a pound. Casey can buy a maximum of ________ pounds of fish or a maximum of ________ pounds of shrimp.
A. 30; 50
B. 30; 15
C. 50; 30
D. 15; 30
Answer: C
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A) a shift down and to the left of the IS curve. B) a shift to the left of the FE line. C) a shift down and to the right of the LM curve. D) a shift up and to the right of the IS curve.
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Answer the following statement true (T) or false (F)
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A) because the firm can sell its product at a constant price B) because revenue increases at a decreasing rate C) because the firm must lower its price to sell more D) because revenue increases at an increasing rate