Answer:
Option (E) is correct.
Explanation:
For utility maximization,
Bob's consumption of Housing and food should be such that:
Here,
= 50
=20
Bob is not maximizing utility, as these two terms are not equal(50 > 20).
Since the marginal utility per rupee spent on housing is greater than that on food.
Hence, Bob can increase his utility just by consuming more of housing and less of food.
Answer:
A. demand for labor; minimum wage
Explanation:
When an effective minimum wage is introduced, the number of hours of labor employed is determined by the <u>DEMAND FOR LABOR</u> and the <u>MINIMUM WAGE</u>
You should be brief in the subject line
Answer:
The answer is true
Explanation:
THE STATEMENT IS TRUE. Manufacturers must conform to the Robinson-Patman Act, which prohibits price discrimination within the United States unless differences in prices can be justified by different costs of serving different customers.
The Congruence Test.
If you want to know more visit: https://www.ryerson.ca/~glassman/Qsort.html