Consider a consumer who spends all income on only two goods: pizza and soda. An extra slice of pizza would give the consumer 60 extra utils, while an extra can of soda would give the consumer 20 extra utils. Pizza costs $3 per slice, and soda costs $1 per can. In this situation, the consumer:
a. is buying too much pizza and not enough soda.
b. should purchase more pizza and less soda.
c. has maximized his or her total utility.
d. needs to equate the marginal utilities for pizza and soda.
c
Economics
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Which is a fixed cost for a store?
a. short-term workers b. rent c. advertising d. inventory
Economics
East Asia's crisis was relatively long lived because
A) East Asia's financial institutions had encouraged borrowing all together. B) East Asia's financial institutions had encouraged heavy borrowing in local currency. C) East Asia's financial institutions had extended low-interest loans. D) East Asia's financial institutions had extended high-interest loans. E) East Asia's financial institutions had encouraged heavy borrowing in dollars.
Economics