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Author Question: If the utility for two goods x and y is measured as U = x + y, then it can be concluded that A) x ... (Read 31 times)

renzo156

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on: Jul 1, 2018
If the utility for two goods x and y is measured as U = x + y, then it can be concluded that
 
  A) x and y are perfect substitutes.
  B) x and y are perfect complements.
  C) x and y are both bads.
  D) the indifference curves on the x,y graph will be upward sloping.

Question 2

The demand for a monopoly's output is p = 50 - Q. The monopoly's marginal cost is 4 and the market wage is 2. How many units of labor are demanded by the monopoly?
 
  A) L = 46
  B) L = 23
  C) L = 0
  D) L = 10


Jane

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

A

Answer to Question 2

A


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