If Bobby decides that his marginal utility per dollar spent on vanilla ice cream exceeds his marginal utility per dollar spent on chocolate ice cream, he should then
A) buy more chocolate ice cream and less vanilla ice cream.
B) buy more vanilla ice cream and less chocolate ice cream.
C) buy all the vanilla ice cream he can.
D) never buy chocolate ice cream.
Question 2
In the figure above, a firm is operating at point A on the graph. At point A, the firm's average cost curve
A) has negative slope.
B) has positive slope.
C) is horizontal.
D) is vertical.
A graphical representation of the marginal value theorem.
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Mel Chin, Operation Paydirt/Fundred Dollar Bill Project.
Spoon vanilla yogurt over canned crushed pineapple and sliced bananas for a tropical treat
A Production Function with Diminishing Marginal Product of Capital
Waffles with ice cream