In: Economics
1. Suppose you are studying for the final exam. You have only one last hour to study either accounting, economics, or statistics. The marginal point per hour are 5, 3, and 4, respectively. Which subject should you study? (Assuming that you would pass all classes regardless of what you choose to study.)
Accounting.
Economics.
Statistics.
It does not matter. You would study either one of them.
2.
Unit of Apples | MU of Apple | Unit of Oranges | MU of Oranges |
1st | 4 | 1st | 9 |
2nd | 3 | 2nd | 3 |
3rd | 1 | 3rd | 2 |
4th | 0 | 4th | 0 |
Suppose the price of an apple is $2 and the price of an orange is $3. With your budget $10, how many apples and oranges would you buy?
3 apples and 1 orange. |
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3 oranges and no apple. |
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2 apples and 2 oranges. |
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3 oranges and 1 apple. |
3.
Suppose the price of an apple is $2, and the price of an orange if $3. You have a budget $10 for these two items. What would you put in your basket first?
4.
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