Author Question: The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for ... (Read 110 times)

tnt_battle · **on:** Jun 29, 2018

The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for milkshakes and sodas is 20.00 per week. Milkshakes cost 2.00 each and sodas cost .50 each.

What quantity of milkshakes does Tom purchase at his consumer equilibrium? A) five
B) six
C) seven
D) eight

Question 2

The table above shows the number of pounds of bricks that can be produced by the Red Brick Company as the number of workers hired increases. The brick market is perfectly competitive and each pound of bricks sells for 20.

The labor market is competitive and the wage rate is 30 an hour. When the Red Brick Company maximizes its profit, it produces ________ bricks an hour. A) 19
B) 21
C) 22
D) 10