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Author Question: A wage that allows people to pay for the necessities of life is known as a(n): a. equilibrium wage. ... (Read 13 times)

ETearle

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on: Jun 30, 2018
A wage that allows people to pay for the necessities of life is known as a(n):
 a. equilibrium wage.
  b. minimum wage.
 c. living wage.
 d. fair wage.
 e. subsistence wage.

Question 2

Grace maximizes her utility by consuming both gourmet cookies and ice cream. If the price of a dozen cookies is three times that of a pint of ice cream, we would expect that:
 a. the total utility of a dozen cookies is three times that of a pint of ice cream.
 b. the total utility of a dozen cookies is one-third that of a pint of ice cream.
 c. the marginal utility of the last dozen cookies is three times that of the last pint of ice cream.
  d. the marginal utility of the last dozen cookies is one-third times that of the last pint of ice cream.


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manuelcastillo

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

c

Answer to Question 2

c


ETearle

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

tanna.moeller

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

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