ECON 101 Quiz: ECON 101 IA State Quiz6 S2000

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31 Jan 2019
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One car gives 15,000 units, 2 cars together give 27,000 units, etc. If the price of an automobile ,000, what is the marginal utility per dollar spent on the second automobile? a. b. c. d. e. Jeff spends all his income on warm-up suits and running shoes. The price of a warm-up suit is four times as large as the price for a pair of running shoes. In an equilibrium for an individual consumer, a. b. c. d. e. p1 p2. Muq1 both a and b a, b, and c. For questions 6 and 7, consider the following data on oil and rice production in indonesia and thailand where the data is production per time period. Assume that the production possibility frontier is linear. With no rice production, indonesia can produce 10,000 barrels of oil. With 500 tons of rice, indonesia has no oil production, etc.

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