Jeremy maximizes utility by consuming both iced tea and coffee. Iced tea is priced at 1.50 per bottle and coffee at 2.00 per 16-ounce cup. Which of the following marginal utility pairs is inconsistent with Jeremy's consumer equilibrium at these prices?
a. MU of iced tea = 3; MU of coffee = 4
b. MU of iced tea = 4; MU of coffee = 3
c. MU of iced tea = 6; MU of coffee = 8
d. MU of iced tea = 3/4; MU of coffee = 1
Question 2
Other things being equal, the marginal revenue product for labor hired by a firm that is a monopolist in the output market:
a. is represented by an upward sloping curve.
b. is equal to the marginal revenue product for labor hired by a perfectly competitive firm.
c. is less than the marginal revenue product for labor hired by a perfectly competitive firm.
d. is greater than the marginal revenue product for labor hired by a perfectly competitive firm.
e. is equal to the value of marginal product of labor.
Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan).
A utility knife uses replaceable blades and can cut carpet and other materials.
Use tap water when making coffee, tea, or juice from concentrate, and for food preparation
Coffee will not sober you up. An intoxicated person who drinks coffee will end up being a stimulated
Wood coffee table
Custard Dessert With Coffee