If Marlowe obtains 9 units of utility per dollar spent on apples and 6 units of utility per dollar spent on oranges, then Marlowe
A) is maximizing total utility.
B) should buy more apples and fewer oranges.
C) should buy more oranges and fewer apples.
D) should buy fewer oranges and fewer apples.
Answer: B
Economics
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Indicate whether the statement is true or false
Economics
Suppose an airline ticket from Portland to Orlando costs $760 . A bus ticket costs $360 . Traveling by plane will take 6 hours, compared with 26 hours by bus. Other things constant, the minimum value of one's time that would induce a rational individual to fly rather than drive would be
a. $18 per hour. b. $20 per hour. c. $38 per hour. d. $44 per hour.
Economics