This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: With a given income and prices of goods, Marcus will be in a consumer equilibrium if ________. A) ... (Read 325 times)

savannahhooper

  • Hero Member
  • *****
  • Posts: 576
on: Jun 29, 2018
With a given income and prices of goods, Marcus will be in a consumer equilibrium if ________.
 
  A) his marginal utility from all goods is the same
  B) he purchases the same amounts of all goods
  C) he maximizes his total utility
  D) his marginal utility from all goods is at its maximum

Question 2

For a firm in perfect competition, a diagram shows quantity on the horizontal axis and both the firm's marginal cost (MC) and its marginal revenue (MR) on the vertical axis. The firm's profit-maximizing quantity occurs at the point where the
 
  A) slope of the MC curve is zero.
  B) MC and MR curves are parallel.
  C) MC curve intersects the MR curve from below, going from left to right.
  D) MC curve intersects the MR curve from above, going from left to right.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

karlss

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


savannahhooper

  • Hero Member
  • *****
  • Posts: 576
Reply #2 on: Jun 29, 2018
Correct answers!


karlss

  • Sr. Member
  • ****
  • Posts: 321
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Distribution of the Income of Americans Distribution of the Income of Americans
How the Distribution of Education Affects the Distribution of Income How the Distribution of Education Affects the Distribution of Income
Relationship between Income per Capita and Population Growth Relationship between Income per Capita and Population Growth
Infant mortality by income quintile, urban Canada, 1996 Infant mortality by income quintile, urban Canada, 1996
Variable and absorption costing, explaining operating-income differences. Variable and absorption costing, explaining operating-income differences.
One generation of random mating produces Hardy–Weinberg equilibrium One generation of random mating produces Hardy–Weinberg equilibrium
Video: DNA close up Animation

For a complete list of videos, visit our video library