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Author Question: The above table shows Homer's marginal utility from consuming various quantities of chocolate chip ... (Read 62 times)

daltonest1984

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on: Jun 29, 2018
The above table shows Homer's marginal utility from consuming various quantities of chocolate chip cookies and cake. The price of cookies is 1 per pound, the price of cake is 2 per slice and Homer has 9 to spend on cookies and cake.
 
  Homer will consume ________ pounds of cookies and ________ slices of cake. A) 5; 2
  B) 2; 5
  C) 3; 3
  D) None of the above answers is correct.

Question 2

Sandra's Sweaters' production function is shown in the above table. Sandra rents three knitting machines for 30 a day each and hires workers at a wage rate of 40 a day. If Sandra produces 18 sweaters per day, what is her average total cost?
 
  A) 5.00
  B) 6.67
  C) 9.44
  D) 10.00


Bsand8

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

A

Answer to Question 2

C


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