Suppose a consumer's MRS is given by the formula MRSPT = T/P, where P stands for the number of pieces of pizza and T stands for the number of tacos. Starting at 12 tacos and 4 pizzas, the consumer must receive:
A. 3 tacos to compensate them for the loss of one piece of pizza.
B. 3 pieces of pizza to compensate them for the loss of one taco.
C. 1/3 taco to compensate them for the loss of one piece of pizza.
D. 1/3 piece of pizza to compensate them for the loss of one taco.
A. 3 tacos to compensate them for the loss of one piece of pizza.
Economics
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Recall the Application. The equilibrium price of pecans increased because the demand curve shifted
A) up and to the right. B) up and to the left. C) down and to the right. D) down and to the left.
Economics
In Figure 45.5, where one union is bargaining against one employer, the highest possible negotiated wage paid to workers will be 
Figure 45.5
A. W*. B. W2. C. W1. D. an undetermined point between W1 and W2.
Economics