ECON 101
Document Content and Description Below
1. Suppose that MU of an additional apple is 20 and its price is $1, while MU for an additional orange is 7and its price is $ 0.5. To maximize utility what should you do? 2. When average total cost ... is falling, marginal cost must be d. below variable cost. 3. In the short run, a monopolist with a loss, along with marginal revenue of $10, and marginal cost of $15, should 4. Assume that you are allocating your budget optimally between soft drinks and hamburgers. If the MU of a soft drink is 40 and its price is $4, what must be the price of hamburgers if its MU is 60? 5. A demand curve slope downward due to: [Show More]
Last updated: 2 years ago
Preview 1 out of 8 pages
Buy this document to get the full access instantly
Instant Download Access after purchase
Buy NowInstant download
We Accept:
Reviews( 0 )
$7.00
Can't find what you want? Try our AI powered Search
Document information
Connected school, study & course
About the document
Uploaded On
Apr 08, 2023
Number of pages
8
Written in
All
Additional information
This document has been written for:
Uploaded
Apr 08, 2023
Downloads
0
Views
122
