While waiting in line to buy a cheeseburger for $2 and a drink for 75 cents, Aaron notices that the restaurant has a value meal containing a cheeseburger, drink, and French fries for $3 . For Aaron, the marginal cost of purchasing the French fries:
a. would be zero.
b. would be 25 cents.
c. would be 50 cents.
d. cannot be determined because the information about the price of the French fries is not provided.
b
Economics
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The market demand for wheat is Q = 100 - 2p + 1 , where is the price of barley. The cross price elasticity of demand for wheat with respect to barley
A) cannot be calculated from just the information provided. B) is negative. C) suggests that wheat and barley are complements. D) equals 1.
Economics
The slope of the budget line is determined only by the prices of the commodities purchased
a. True b. False Indicate whether the statement is true or false
Economics