Question: Question1 Question 4 Marginal utility is Marginal analysis compares to determine the optimal outc…

01 May Question: Question1 Question 4 Marginal utility is Marginal analysis compares to determine the optimal outc…

Posted at 19:22h in 2Past Paper by Exams

Question1 Question 4 Marginal utility is Marginal analysis compares to determine the optimal outcome or choice. Select the correct answer below Select the correct answer below: O total benefits, total costs O total benefits, marginal costs O marginal benefits, total costs O marginal benefits, marginal costs Question 2 O the additional satisfaction produced as the fim adds one additional unit of an inpurt O the additional satisfaction that a consumer derives from consuming one additional unit of a good O the amount of utlity divided by the number of units produced O all of the above Question 5 The graph below shows Rick’s budget constraint. if Rick’s budget is $32 and he spends all of his budget on train tckets, what is the price of a single train ticket? Sarah has a certain ameunt of money bucdgeted for tea and snacks during the work week, and she always aims to spend her entire budget. If she spends her entire budget on tea, she can afford 40 cups of tea. If she spends her entire budget on snacks she can afford 8 snacks. What is the opportunity cost of a snack? 16 Provide your answer below 14 8 12 10 Question 3 Bobby is speaking to his friend and says, “this musical is going to cost me $60 when I buy the ticket. His friend corrects hinm and says, actually, this concert will cost you more than $60 since you have to miss work.His friend is referring to the Select the correct answer below O economies of scale O budget constraint O opportunity cost O opportunity se Bottles of Water

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