Refer to the above figure. The top two arrows of the figure refer to the product markets. The bottom arrows refer to the factor markets. Which arrow represents total income?

A key factor that determines the geographic extent of a housing market is the distance that commuters are willing to travel from home to work

Which of the following events would NOT help to expand the geographic extent of the housing market in a metropolitan area? A) Price of gasoline declines B) State gasoline tax increases C) Public transit fares decrease D) none of the above

Assume that you allocate your income to calzones and juice and that you have not yet spent your entire budget. If the marginal utility of a fourth calzone is 100 and the marginal utility of a third glass of juice is 50, you would

a. eat a fourth calzone because it has higher marginal utility b. drink a third glass of juice c. drink a third glass of juice if its price is lower than the price of calzones d. drink a third glass of juice if its price is less than half the price of the calzone e. drink a third glass of juice because it has lower marginal utility