« previous next »

Author Question: Joe and Rita each have some milk and cookies (Milk on the horizontal axis). Joe's MRS of cookies for ... (Read 34 times)

futuristic

  • Hero Member
  • *****
  • Posts: 638
on: Jul 1, 2018
Joe and Rita each have some milk and cookies (Milk on the horizontal axis). Joe's MRS of cookies for milk is 2. Rita's MRS of cookies for milk is 4. Which of the following statements is TRUE?
 
  A) No gains from trade are possible.
  B) Both Rita and Joe can be made better off if Rita gives Joe some cookies in exchange for milk.
  C) Rita and Joe are on the contract curve.
  D) Both Rita and Joe can be made better off if Joe gives Rita some cookies in exchange for milk.

Question 2

Fixed costs are
 
  A) a production expense that does not vary with output.
  B) a production expense that changes with the quantity of output produced.
  C) equal to total cost divided by the units of output produced.
  D) the amount by which a firm's cost changes if the firm produces one more unit of output.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


essyface1

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Rotation Rotation–Moving a body part around a central axis. Rotation Rotation–Moving a body part around a central axis.
How Axis Tilt Affects the Intensity of Solar Radiation How Axis Tilt Affects the Intensity of Solar Radiation
Eggs, milk, and cheese are complete proteins, because they are animal products. Eggs, milk, and cheese are complete proteins, because they are animal products.
Precession: Earth’s axis rotates, or “wobbles” Precession: Earth’s axis rotates, or “wobbles”
Milk Label Containing Information about the Use of rBGH Milk Label Containing Information about the Use of rBGH
Milk, nuts, seeds, fish Milk, nuts, seeds, fish
Video: Sigmoidoscopy

For a complete list of videos, visit our video library