Max has allocated $100 toward meats for his barbecue. His budget line and indifference map are shown in the above figure. If Max is currently at point e,
A) his MRS is less than the trade-off offered by the market.
B) he is willing to give up more burger than he has to, given market prices.
C) he is not maximizing his utility.
D) All of the above.
D
Economics
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Use the data in the table above and suppose that labor is the only variable factor of production. If each worker is paid $42.00 per day, what is the average variable cost to Decent Donuts of producing 122 dozen donuts per day?
A) $1.91 B) $2.16 C) $2.41 D) $3.06
Economics
An increase in the costs of resources or inputs of production would shift the:
A) short-run aggregate supply curve rightward. B) short-run aggregate supply curve leftward. C) long-run aggregate supply curve rightward. D) long-run aggregate supply curve leftward.
Economics