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Author Question: Money income is A) market income plus cash payments from government. B) equal to market income. ... (Read 322 times)

Engineer

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on: Jun 29, 2018
Money income is
 
  A) market income plus cash payments from government.
  B) equal to market income.
  C) market income plus cash payments from government minus taxes.
  D) market income minus taxes.

Question 2

Joe consumes pizza and movies. He is currently spending his entire income and his marginal utility of pizza is 10 and his marginal utility of movies is 5.
 
  If the price of a pizza is 10 and the price of a movie is 5, then to maximize his utility Joe should A) increase consumption of pizza and decrease consumption of movies.
  B) increase consumption of movies and decrease consumption of pizza.
  C) not change his current bundle of movies and pizza.
  D) increase consumption of both goods.


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adammoses97

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

A

Answer to Question 2

C


Engineer

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Mochi

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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