If Bobby decides that his marginal utility per dollar spent on vanilla ice cream exceeds his marginal utility per dollar spent on chocolate ice cream, he should then
A) buy more chocolate ice cream and less vanilla ice cream.
B) buy more vanilla ice cream and less chocolate ice cream.
C) buy all the vanilla ice cream he can.
D) never buy chocolate ice cream.
Question 2
In the figure above, a firm is operating at point A on the graph. At point A, the firm's average cost curve
A) has negative slope.
B) has positive slope.
C) is horizontal.
D) is vertical.
Robert K. Merton (1910–2003), who spent most of his academic career at Columbia University, was a ...
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