Assume you spend all of your income on two goods: peanuts and chips. Also assume that you are consuming the combination of peanuts and chips that maximize your utility. Which of the following statements is true? a. if the price of peanuts is equal to the price of chips, then the marginal utilities must also be equalb. if the price of peanuts is less than the price of chips, then the marginal utility of peanuts is more than the marginal utility of chipsc. the marginal utilities of the two goods and their prices are not related
Answers (2)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Assume you spend all of your income on two goods: peanuts and chips. Also assume that you are consuming the combination of peanuts and ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The following data are for the Akron Division of Consolidated Rubber, Inc.:Sales $ 750,000Net operating income $ 45,000Average operating assets $ 250,000Stockholders' equity $ 75,000Residual income $ 15,000 For the past year, the minimum required
Answers (1)
A company sold equipment that originally cost $250,000 for $50,000 cash. the accumulated depreciation on the equipment was $200,000. the company should recognize a:
Answers (2)
Department is related to organization as employee is related to Which of the following? Perforarmance Subordinate Coworker Supervisor Team
Answers (1)
Metlock, Inc. had net sales in 2020 of $1,430,300. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $239,200 debit, and Allowance for Doubtful Accounts $3,780 credit.
Answers (1)
Question Workspace Harris walked onto some train tracks, ignoring a yellow warning line painted on the station platform, as well as shouts from concerned onlookers, and the ringing bells and flashing lights signaling the approach of an express train.
Answers (1)
New Questions in Business
The transactions completed by Franklin Company during January, its first month of operations, are listed below. Assume that Franklin Company uses the following journals: cash receipts (CR), cash payments (CP.
Answers (1)
A Company's perpetual preferred stock sells for $102.50 per share, and pays a $9.50 annual dividend. If the company were to issue a new preferred issue, a flotation cost of 4.00% would be paid to the investment bankers.
Answers (1)
Abigail spent $100 on a new edition of the personal finance textbook rather than $75 for a used copy. the additional cost for the new copy is called the
Answers (1)
What can be measured by the level of real gdp per person?
Answers (1)
Three people have identical rights but unequal shares in a property, share an indivisible interest, and may sell or transfer their interest without consent of the others. What type of ownership is this?
Answers (1)