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Author Question: The above table gives Sue's marginal utility schedules for sub sandwiches and Mountain Dew, the only ... (Read 30 times)

ETearle

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on: Jun 29, 2018
The above table gives Sue's marginal utility schedules for sub sandwiches and Mountain Dew, the only products Sue consumes. Suppose initially the price of a sub sandwich is 4 each and the price of a Mountain Dew is 2 each. Sue's income is 12.
 
  If the price of subs rises to 6 each, Sue will consume A) more Mountain Dews.
  B) fewer subs.
  C) fewer Mountain Dews so that she can still afford to buy two subs.
  D) Both answers A and B are correct.

Question 2

The table above gives information about the labor market in Lantis, a community in which the labor market is perfectly competitive.
 
  If the demand for labor decreases by 200 hours per day, the equilibrium wage rate falls to ________ an hour and the quantity of labor employed ________ hours per day. A) 10; remains at 400
  B) 10; decreases to 300
  C) 20; increases to 400
  D) 5; remains at 200


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BAOCHAU2803

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

D

Answer to Question 2

B


ETearle

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Reply #2 on: Jun 29, 2018
Thank you :)


BAOCHAU2803

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Reply #3 on: Jun 29, 2018
Happy to help you


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