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Question
Sue views hot dogs and hot dog buns as perfect complements in her consumption, and the corners of her indifference curves follow the 45-degree line. Suppose the price of hot dogs is $5 per package (8 hot dogs), the price of buns is $3 per package (8 hot dog buns), and Sue's budget is $48 per month. What is her optimal choice under this scenario?A) 8 packages of hot dogs and 6 packages of buns
B) 8 packages of hot dogs and 8 packages of buns
C) 6 packages of hot dogs and 6 packages of buns
D) 6 packages of hot dogs and 8 packages of buns
Answer
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Related questions
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B) NPV is understated
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
Scenario 14.4:
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L = PL -5 MEL = 2L + 5
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Q:
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Q:
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Use the following statements to answer this question:
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Q:
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Q:
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Q:
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Q:
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Q:
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B) an increase in labor employment and an increase in the wage rate.
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Q:
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Q:
If leisure is a normal good, then the income effect of a decrease in wage will
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Q:
The marginal revenue product can be expressed as the
A) additional revenue received from selling one more unit of product.
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C) marginal physical product of an input times the average revenue received from the sale of the product.
D) average physical product of the input times the marginal revenue received from the sale of the final product.