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Author Question: On a big weekend of college football in 2010, the Associated Press found fans who said they are ... (Read 118 times)

jhjkgdfhk

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on: Jun 29, 2018
On a big weekend of college football in 2010, the Associated Press found fans who said they are making concessions yet determined to indulge their passion.
 
  We basically let the wife and children not eat for a week so we can do this, joked Neil Plotkin, who was attending his first Penn State game. If Neil's marginal rate of substitution between weeks of food and his first Penn State game is 1, what do you predict the marginal rate of substitution between food and subsequent Penn State games is for Neil? A) less than one
  B) greater than one
  C) equal to one
  D) cannot determine without knowing Neil's income

Question 2

The figure above shows the marginal revenue, marginal cost, and demand curves for an airline offering daily flights between Los Angeles and Toronto. If the airline is regulated using a marginal cost pricing rule total surplus will be ________.
 
  A) 100,000
  B) 60,000
  C) 80,000
  D) 20,000


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aruss1303

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


jhjkgdfhk

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Reply #2 on: Jun 29, 2018
Correct answers!


aruss1303

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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