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Author Question: Lizzie's preferences are shown in the figure above. Which of the following combinations of goods ... (Read 125 times)

cdr_15

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on: Jun 29, 2018
Lizzie's preferences are shown in the figure above. Which of the following combinations of goods does Lizzie prefer the most?
 
  A) 6 comic books and 20 cookies
  B) 8 comic books and 8 cookies
  C) 12 comic books and 10 cookies
  D) 4 comic books and 12 cookies

Question 2

In the above figure, the price elasticity of supply at any given quantity is
 
  A) highest along S1, next highest along S2, and lowest along S3.
  B) highest along S3, next highest along S2, and lowest along S1.
  C) equal to zero on each of the three supply curves.
  D) equal to one on each of the three supply curves.


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mathjasmine

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

A

Answer to Question 2

D


cdr_15

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

bbburns21

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Reply 3 on: Yesterday
Excellent

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