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a. could be a possible optimal cons… Show more Here are th

Paper help Economics a. could be a possible optimal cons… Show more Here are th

Economics

a. could be a possible optimal cons… Show more Here are th

a. could be a possible optimal cons… Show more Here are the questions: 1. A point inside the budget constraint a. could be a possible optimal consumption point. b. means the consumer is spending her income wisely in order to maximize her total utilty. c. is not attainable. d. will not be a possible optimal consumption point. 2. A consumer maximizes their total utility from consumption by consuming goods such that a. the marginal utility per dollar spent on all goods is equal. b. the total utility from each good is equal. c. they consume as much as possible without having to spend all of their income. d. the marginal utility from each good is equal. 3. All new employess at a large company are required to take a training course before they start working. This will likely result in which of the following? a. Happier workers. b. A higher MP of labour for the workers. c. Higher demand for the finished output of the workers. d. An increase in demand for new workers who can then be trained. 4. A plumber who specializes in cleaning plugged sewer lines is typically paid a higher wage than a plumber who works on installing water systems in new residential housing. What is likely to be a partial explanation? a. The price of plumbing supplies is higher for sewer lines. b. Demand for sewer plumbers is lower. c. The supply of sewer plumbers is higher. d. Sewer plumbers have a higher marginal product of labour. Thanks guys!! I appreciate it. • Show less

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