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Author Question: Refer to Scenario 16.3. What is Sam's marginal rate of substitution of tee shirts for candy at the ... (Read 26 times)

2125004343

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on: Jul 1, 2018
Refer to Scenario 16.3. What is Sam's marginal rate of substitution of tee shirts for candy at the current distribution?
 
  A) 2.
  B) 7/5.
  C) 5/7.
  D) It is impossible to determine without the prices of each commodity.

Question 2

Given the data in Scenario 14.3, how much labor should the firm employ if labor costs 30 a unit?
 
  A) 3 units of labor
  B) 4 units of labor
  C) 5 units of labor
  D) 6 units of labor
  E) 7 units of labor


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cloud

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


2125004343

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

abro1885

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

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