Tommy buys only soda and pizza and is buying the amounts that maximize his utility. The marginal utility from a soda is 5 and the price of a soda is $1. The marginal utility from a slice of pizza is 10. The price of a slice of pizza must be
A) $10.
B) $2.
C) $1.
D) some amount that cannot be calculated without more information.
B
Economics
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According to PPP, the real exchange rate between two countries will always equal
A) 0.0. B) 0.5. C) 1.0. D) 1.5.
Economics
The result that the growth rate of output per worker is equal to 1.43 × is ________
A) true of the Solow model only B) true of both the Solow model and the Romer model C) true of the Romer model only D) true under the common-law legal system only
Economics