Samara's income is $30 a month and she spends all of it on music downloads and gasoline. The price of a music download is $1.50 and the price of a gallon of gasoline is $3
At Samara's best affordable point, her marginal rate of substitution is ________ per video tape. A) 0.5 of a download
B) 1 download
C) 1.5 downloads
D) 2 downloads
A
Economics
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More education guarantees a higher income and escaping poverty
Indicate whether the statement is true or false
Economics
Other things held constant, after some point hiring additional units of labor will cause the marginal physical product of labor to decline because
A) the firm is a price taker. B) the wage rate increases when additional workers are hired. C) of the law of diminishing marginal product. D) the supply of labor is perfectly elastic.
Economics