Which of the following determines the overall price and output in the short run?

Refer to Scenario 12.2. Suppose that the marginal cost increases such that:

MC = Q + 10 What is the profit maximizing level of output? A) 171.43 B) 120 C) 150 D) all of the above E) none of the above

Suppose that 2 units of X and 8 units of Y give a consumer the same satisfaction as 4 units of X and 2 units of Y. Then

A. the marginal rate of substitution of Y for X is 3. B. the consumer is willing to give up 1 unit of Y to obtain 3 more units of X. C. the consumer is willing to give up 3 units of Y to obtain 1 more unit of X. D. both a and c  E. both b and c