Author Question: George spends all his income on sandwiches and juice. George's utility is maximized when he is ... (Read 110 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?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

For a complete list of videos, visit our video library