Stephan prefers practicing his keyboard everyday instead of writing articles for the local newspaper, despite the fact that the newspaper will pay him $10 for every 100 words he writes. This implies that:
a. his labor supply curve is a horizontal straight line.
b. he has a high opportunity cost of leisure

During a study session for an economics exam with three other students, Peter Daltry commented on an example of a consumer who had to decide on number of slices of pizza and cups of Coca-Cola he would consume. Peter explained that "To maximize his

utility this consumer must equate the marginal utility per dollar for pizza and Coca-Cola." Was Peter's analysis correct? A) Peter described one of the conditions necessary for utility maximization. The consumer also must equate the marginal utility of pizza and the marginal utility of cups of Coca-Cola. B) Peter's statement is correct. C) Peter's statement is correct but we must also assume that the consumer is rational. D) Peter describes one of the conditions necessary for utility maximization. The second condition is that total spending on both goods must equal the amount available to be spent.

PriceQuantity SuppliedQuantity Demanded$00300$110250$250180$390150$4120120$515090$618050 Refer to Table 6.1, which gives the daily supply and demand schedules for cups of coffee at a kiosk in a shopping mall. If there is no tax placed on coffee, how many cups of coffee will be bought and sold?

A. 120 B. 150 C. 90 D. 50