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Author Question: Lily is a college student who likes to buy only two goods: Cheetos and Pepsi. To determine Lily's ... (Read 56 times)

PhilipSeeMore

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on: Jun 29, 2018
Lily is a college student who likes to buy only two goods: Cheetos and Pepsi. To determine Lily's budget line, you need to know I. Lily's preferences for Cheetos and Pepsi. II. The prices of Cheetos and Pepsi. III. Lily's income.
 
  A) II only
  B) I and II
  C) II and III
  D) I, II and III

Question 2

The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at 8 per hour, how many hours do students work?
 
  A) 12,000 hours
  B) 9,000 hours
  C) 6,000 hours
  D) None of the above answers is correct.


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flexer1n1

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

C

Answer to Question 2

C


PhilipSeeMore

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Missbam101

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

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