Author Question: George spends all his income on sandwiches and juice. George's utility is maximized when he is ... (Read 395 times)

nelaaney

  • Hero Member
  • *****
  • Posts: 560
George spends all his income on sandwiches and juice. George's utility is maximized when he is consuming sandwiches and juice so that the
 
  A) marginal utility from sandwiches equals the marginal utility from juice.
  B) total utility from sandwiches equals the total utility from juice.
  C) marginal utility per dollar spent on sandwiches equals the marginal utility per dollar spent on juice.
  D) marginal utility from sandwiches is at a maximum.

Question 2

The value of marginal product of labor
 
  A) is the change in total product that results from selling one more unit of a good.
  B) is equal to the price of the good produced multiplied by the marginal product of labor.
  C) is equal to marginal revenue multiplied by the quantity.
  D) increases as the amount of labor employed increases.



fffftttt

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

C

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

For a complete list of videos, visit our video library