Author Question: Larry spends all his 800 monthly income on pizza and milk. The price of pizza is 4 a slice, and the ... (Read 130 times)

Anajune7 · **on:** Jun 29, 2018

Larry spends all his 800 monthly income on pizza and milk. The price of pizza is 4 a slice, and the price of milk is 2 per quart. The relative price of milk is

A) 2 slices of pizza per quart.
B) 0.5 slices of pizza per quart.
C) 2 per quart.
D) 0.5 quarts per slice of pizza.

Question 2

The table above shows the short-run product schedule for Virginia's Tee-Shirts. The worker for whom the law of diminishing returns initially occurs is the ________ worker.

A) 5th
B) 4th
C) 3rd
D) 2nd