Sarah consumes pizzas and hamburgers. The price of a hamburger is $1 and the marginal utility from her last hamburger is 5. Let Pp be the price of a pizza and MUp be the marginal utility of pizzas
In consumer equilibrium, the ratio MUp/Pp for Sarah's last pizza must equal A) 0.2.
B) 1.0.
C) 5.0.
D) infinity.
C
Economics
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When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a surplus of labor
a. True b. False Indicate whether the statement is true or false
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