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Author Question: Newspaper vending machines illustrate that publishers believe a. the average utility of two ... (Read 23 times)

jc611

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on: Jul 1, 2018
Newspaper vending machines illustrate that publishers believe
 a. the average utility of two identical papers is zero or less
  b. the total utility from two identical newspapers is zero or less
  c. the marginal utility of a second identical newspaper is zero or less
  d. the marginal utility of a second identical newspaper is greater than the marginal utility of the first newspaper
  e. the total utility from two identical newspapers is less than the total utility from the first newspaper

Question 2

Joe the Economist tells his wife, Jane, that he wants to spend a weekend fishing with his friends. She replies, You don't love me anymore. Just before she hits Joe with a croquet mallet, Joe explains to her that she has confused the concepts of
 a. marginal utility and price
  b. income and price
  c. marginal utility and total utility
  d. love and death
  e. consumer surplus and utility


bfulkerson77

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


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