Ricardo buys cola and popcorn. Cola sells for 0.50 a can and popcorn sells for 1 per bag. He is in consumer equilibrium. The price of a cola jumps to 1 per can. In his new consumer equilibrium, Ricardo's
A) marginal utility of cola will be equal to his marginal utility of popcorn.
B) marginal utility per dollar spent will be 2.
C) total utility will be higher.
D) marginal utility of cola will decrease.
Question 2
The fact that you may not know who your congressional representative is represents
A) rational ignorance on your part.
B) the rival nature of information.
C) inefficient oversupply of public servants.
D) the use of the median voter theorem.
A seashell vendor in Tanzania sells to tourists seashells which have been taken from the sea alive,
Ai Weiwei, Han Dynasty Urn with Coca-Cola Logo.
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to ...
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...