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Author Question: If Project X has a cost of 6 and provides a benefit of 10, and Project Y has a cost of 25 and ... (Read 845 times)

jessicacav

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on: Jun 29, 2018
If Project X has a cost of 6 and provides a benefit of 10, and Project Y has a cost of 25 and provides a benefit of 27, which of the following statements is true?
 
  A) An individual can optimize by choosing Project X.
  B) An individual can optimize by choosing Project Y.
  C) Switching from Project X to Project Y increases net benefit by 2.
  D) Switching from Project Y to Project X decreases net benefit by 2.

Question 2

When your textbook authors say competition can be recognized only in motion pictures, not in still photographs, they mean
 
  A) Hollywood is a competitive industry; portrait photography is non-competitive.
  B) competition is better described as a process, rather than a fixed state of affairs.
  C) competitors don't sit still.
  D) competition didn't exist before the advent of motion picture technology.
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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scottmt

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

A

Answer to Question 2

B


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