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Author Question: Suppose that a consumer regards two types of soap as perfect substitutes for one another. The price ... (Read 59 times)

jessicacav

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  • Posts: 558
on: Jul 1, 2018
Suppose that a consumer regards two types of soap as perfect substitutes for one another. The price consumption path generated by changing the price of one type of soap
 
  A) is always upward sloping.
  B) is always horizontal.
  C) is always vertical.
  D) corresponds with the axis for the cheaper soap.
  E) corresponds with the axis for the more expensive soap.

Question 2

Refer to Scenario 14.3. What is the marginal profit from hiring the third unit of labor?
 
  A) 30
  B) 65
  C) 85
  D) 225
  E) none of the above


mcni194

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

D

Answer to Question 2

B


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