With a given income and prices of goods, Marcus will be in a ...

[savannahhooper]

With a given income and prices of goods, Marcus will be in a consumer equilibrium if ________.
 
  A) his marginal utility from all goods is the same
  B) he purchases the same amounts of all goods
  C) he maximizes his total utility
  D) his marginal utility from all goods is at its maximum

Question 2

For a firm in perfect competition, a diagram shows quantity on the horizontal axis and both the firm's marginal cost (MC) and its marginal revenue (MR) on the vertical axis. The firm's profit-maximizing quantity occurs at the point where the
 
  A) slope of the MC curve is zero.
  B) MC and MR curves are parallel.
  C) MC curve intersects the MR curve from below, going from left to right.
  D) MC curve intersects the MR curve from above, going from left to right.

[karlss]

Answer to Question 1

C

Answer to Question 2

C

[savannahhooper]

Correct answers!

[karlss]

Great! Please up vote