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Author Question: George spends all his income on sandwiches and juice. George's utility is maximized when he is ... (Read 397 times)

nelaaney

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on: Jun 29, 2018
George spends all his income on sandwiches and juice. George's utility is maximized when he is consuming sandwiches and juice so that the
 
  A) marginal utility from sandwiches equals the marginal utility from juice.
  B) total utility from sandwiches equals the total utility from juice.
  C) marginal utility per dollar spent on sandwiches equals the marginal utility per dollar spent on juice.
  D) marginal utility from sandwiches is at a maximum.

Question 2

The value of marginal product of labor
 
  A) is the change in total product that results from selling one more unit of a good.
  B) is equal to the price of the good produced multiplied by the marginal product of labor.
  C) is equal to marginal revenue multiplied by the quantity.
  D) increases as the amount of labor employed increases.


fffftttt

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

C

Answer to Question 2

B


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