Author Question: George spends all his income on sandwiches and juice. George's utility is maximized when he is ... (Read 154 times)

nelaaney

  • Hero Member
  • *****
  • Posts: 560
George spends all his income on sandwiches and juice. George's utility is maximized when he is consuming sandwiches and juice so that the
 
  A) marginal utility from sandwiches equals the marginal utility from juice.
  B) total utility from sandwiches equals the total utility from juice.
  C) marginal utility per dollar spent on sandwiches equals the marginal utility per dollar spent on juice.
  D) marginal utility from sandwiches is at a maximum.

Question 2

The value of marginal product of labor
 
  A) is the change in total product that results from selling one more unit of a good.
  B) is equal to the price of the good produced multiplied by the marginal product of labor.
  C) is equal to marginal revenue multiplied by the quantity.
  D) increases as the amount of labor employed increases.



fffftttt

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

C

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

For a complete list of videos, visit our video library