Author Question: Robinson Crusoe is stranded on an island. He finds that coconuts are freely available (zero harvest ... (Read 59 times)

newbem

  • Hero Member
  • *****
  • Posts: 579
Robinson Crusoe is stranded on an island. He finds that coconuts are freely available (zero harvest cost), but fish are difficult to harvest and require a lot of energy. As a result, harvesting fish has a high price. If coconuts and fish are imperfect substitutes, what is Robinson Crusoe likely to consume?
 
  A) He will consume more coconuts than fish.
  B) He will consume more fish than coconuts.
  C) He will consume equal amounts of both goods.
  D) Not enough information is given.

Question 2

Data shows that United States college students purchase more e-books than German college students. Assuming that all students have identical preferences for e-books and textbooks, what is the likely explanation for this result?
 
  A) Taxes on textbooks are higher in the United States than taxes on textbooks in Germany.
  B) Taxes on textbooks are lower in the United States than taxes on textbooks in Germany.
  C) The price of textbooks is cheaper in the United States than textbooks in Germany.
  D) Both A and C.


leannegxo

  • Sr. Member
  • ****
  • Posts: 374
Answer to Question 1

D

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

For a complete list of videos, visit our video library