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Author Question: Refer to Figure 13-1. The marginal revenue from the increase in price from P0 to P1 equals A) the ... (Read 72 times)

Anajune7

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on: Jun 29, 2018
Refer to Figure 13-1. The marginal revenue from the increase in price from P0 to P1 equals
 
  A) the area (A - D). B) the area (B + D - A).
  C) the area (C - B). D) the area A.

Question 2

Refer to Table 10-2. Suppose Keira's income increases from 18 to 23 but prices have not changed. What is her utility maximizing bundle now?
 
  A) 5 cups of soup and 4 sandwiches B) 5 cups of soup and 5 sandwiches
  C) 6 cups of soup and 5 sandwiches D) 4 cups of soup and 5 sandwiches


peter

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


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