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Author Question: Erika's utility with 3,000 of wealth is 6,000 and her utility with 3,001 of wealth is 6,005. Her ... (Read 94 times)

meagbuch

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on: Jun 29, 2018
Erika's utility with 3,000 of wealth is 6,000 and her utility with 3,001 of wealth is 6,005. Her marginal utility from gaining the additional 1 of wealth is ________.
 
  A) 6,005
  B) 3,001
  C) 6,000
  D) 5

Question 2

The figure above shows a perfectly competitive firm. To maximize its profit, the firm will produce ________ units of output and the price will be ________ for a unit.
 
  A) 30; 40
  B) 30; 30
  C) 20; 40
  D) 20; 30


brittrenee

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

D

Answer to Question 2

A


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