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Author Question: Jason is trying to decide whether to buy a bagel or a muffin for breakfast. The bagel costs 0.50 and ... (Read 36 times)

BrownTown3

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on: Jun 30, 2018
Jason is trying to decide whether to buy a bagel or a muffin for breakfast. The bagel costs 0.50 and has a marginal utility of 5 . The muffin costs 1 and has a marginal utility of 20 . Which should he buy and why?
 a. The muffin, because it has a higher marginal utility
  b. The muffin, because it has a lower marginal utility
  c. The bagel, because it costs less
  d. The bagel, because it has a higher marginal utility per dollar
  e. The muffin, because it has a higher marginal utility per dollar

Question 2

If marginal cost is increasing then:
 a. marginal product must be increasing.
 b. average variable cost must be increasing.
  c. average total cost must be increasing.
 d. none of the above must necessarily be true.


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braelync

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

d


BrownTown3

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Reply 2 on: Jun 30, 2018
Gracias!

FergA

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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