This topic contains a solution. Click here to go to the answer

Author Question: Bobby spends 100 per month on pizza and CDs. His utility from these goods is shown in the table ... (Read 126 times)

809779

  • Hero Member
  • *****
  • Posts: 579
Bobby spends 100 per month on pizza and CDs. His utility from these goods is shown in the table above. The price of a pizza is 10 and the price of a CD is 20. Bobby currently buys 2 pizzas and 6 CDs.
 
  To maximize his utility in the next period, he should A) buy more pizza and fewer CDs.
  B) buy more CDs and fewer pizza.
  C) buy more of both goods.
  D) stay with the current combination of goods.

Question 2

The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel.
 
  If the market is competitive and unregulated, the equilibrium quantity of steel is ________ tons and the efficient quantity of steel is ________ tons. A) 2; 2
  B) 2; 4
  C) 4; 2
  D) None of the above answers is correct.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meltdown117

  • Sr. Member
  • ****
  • Posts: 326
Answer to Question 1

A

Answer to Question 2

C




809779

  • Member
  • Posts: 579
Reply 2 on: Jun 29, 2018
Gracias!


Sarahjh

  • Member
  • Posts: 370
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

For a complete list of videos, visit our video library