Tom spends all his income on comics and cola and maximizes his total utility. If the price of a comic is $4 and the price of a can of cola is $1, then the ratio of the ________ is 4
A) marginal utility from cola to the marginal utility from comics
B) marginal utility from comics to the marginal utility from cola
C) number of comics Tom buys to the number of cola Tom buys
D) total utility from comics to the total utility from cola
B
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Looking at the U.S. balance of payments from 1980 to 2012, we see that the
A) official settlements account was large in the 1980s relative to the current account. B) capital and financial account has been negative for most years and was small in the late 1980s and early 1990s. C) current account has been negative for most years and was small in the late 1980s and early 1990s. D) current account was positive until 1992 then turned negative. E) current account was negative until 1992 then turned positive.
The typical firm in many industries has become ________ over the past 100 years, and efficiently organizing production has become ________
A) larger; easier B) larger; more difficult C) smaller; easier D) smaller; more difficult