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Author Question: An explicit cost is defined as A) a nonmonetary accounting cost. B) a cost that involves spending ... (Read 82 times)

karlynnae

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on: Jun 29, 2018
An explicit cost is defined as
 
  A) a nonmonetary accounting cost. B) a cost that involves spending money.
  C) a nonmonetary opportunity cost. D) a cost that does not change as output changes.

Question 2

Total utility is maximized in the consumption of two goods by
 
  A) maximizing expenditure on each good.
  B) equating the marginal utility for each good consumed.
  C) equating the total utility of each good divided by its price.
  D) equating the marginal utility per dollar for each good consumed.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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cloud

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


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