Suppose the price of pizza is $2 and the consumer optimum is reached when MU/P = 3. Tom's preferences for pizza are shown in the above table. How many slices will Tom buy?

A. 1 slice
B. 2 slices
C. 3 slices
D. 4 slices

Answer: B

Economics

You might also like to view...

GDP accounting ignores

A) all non-market forms of production. B) illegal (black market) production. C) economic value added. D) all of the above.

Economics

If there is an excess demand for money, individuals ________ bonds, causing interest rates to ________

A) sell; rise B) sell; fall C) buy; rise D) buy; fall

Economics