Refer to Figure 10-1. Which of the following statements is true?
A) Quantities Q0 and Q1 are the utility-maximizing quantities of hoagies at two different prices of hoagies.
B) Quantities Q0 and Q1 are derived independently of the utility-maximizing model.
C) Quantity Q0 could be a utility-maximizing choice if the price is 5.75, but quantity Q1 may not be because we have no information on the marginal utility per dollar when price changes.
D) Quantities Q0 and Q1 may not necessarily be the utility-maximizing quantities of hoagies at two different prices because we have no information on the consumer's budget or the price of other goods.
Question 2
The Aluminum Company of America (Alcoa) had a monopoly until the 1940s because
A) it had control of almost all the available supply of bauxite.
B) it had a patent on the manufacture of aluminum.
C) it was a public enterprise.
D) the company had a secret technique for making aluminum from bauxite.
figure 18-1 pituitary hormones
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