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Author Question: Tom's marginal utility from a Sobe exceeds his marginal utility of crackers. Therefore, his total ... (Read 194 times)

jilianpiloj

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on: Jun 29, 2018
Tom's marginal utility from a Sobe exceeds his marginal utility of crackers. Therefore, his total utility of Sobe must exceed his total utility of crackers.
 
  Indicate whether the statement is true or false

Question 2

If there is a monopsony operating in the labor market illustrated in the figure above, the equilibrium wage and quantity of labor hired is
 
  A) 15 and 50 hours.
  B) 10 and 100 hours.
  C) 10 and 50 hours.
  D) 5 and 50 hours.


moormoney

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

FALSE

Answer to Question 2

D


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