Author Question: Tom's marginal utility from a Sobe exceeds his marginal utility of crackers. Therefore, his total ... (Read 205 times)

jilianpiloj

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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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Answer to Question 1

FALSE

Answer to Question 2

D



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