Susan likes to drink sodas. The ________ soda Susan drinks, the ________ of the last soda
A) more; higher the marginal benefit
B) less; higher the opportunity cost
C) less; lower the marginal benefit
D) more; lower the marginal benefit
D
Economics
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Suppose electricity (E) can be produced with coal (C) or gas (G) to operate steam turbines (T). Suppose gas is more efficiently burned than coal but that they are otherwise perfect substitutes. E = min((G + .5C), T). The isoquants between gas and coal will be
a. hyperbolas b. quarter circles c. straight lines
Economics
Which one of the following would cause an increase in the supply of planes?
A) a decrease in the demand for planes B) an increase in the price of planes C) an increase in taxes applied to plane producers D) an improvement in the technology used to produce planes
Economics