Dr. X, an assistant professor at a large state university, is trying to decide how to allocate the 50 hours a week she spends working among the various activities expected of an assistant professor. The professor wants to maximize her raise next year and the table shows estimates of how time spent in each activity will contribute to her raise: 
Given the above information, if she decides that she will work 54 hours a week instead, how should she allocate her time?
A. 20 hours research, 18 hours teaching, 16 hours service
B. 21 hours research, 19 hours teaching, 14 hours service
C. 20 hours research, 17 hours teaching, 17 hours service
D. 18 hours research, 18 hours teaching, 18 hours service
Answer: A
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a. difficulty enforcing ownership once defined b. government fiat c. strong incentives towards the status quo d. monopolies
Total utility is maximized in the consumption of two goods by equating the:
a. prices of both goods for the last dollar spent on each good. b. marginal utilities of both goods for the last dollar spent on each good. c. ratios of marginal utility to the price of both goods for the last dollar spent on each good. d. marginal utility of one good to the price of the other.