Hans has $27 which he decides to spend on x and y. Commodity x costs $16 per unit and commodity y costs $10 per unit. He has the utility function U(x, y) = 5x^2 + 2y^2 and he can purchase fractional units of x and y. Hans will choose A. only x. only y. B. some of each commodity but more y than x. C. some of each commodity but more x than y. D. equal amounts of the two commodities.

Afarmer is an example of what kind of producer?

Question 55 ted, a supervisor for jack's pool supplies, was accused of stealing pool supplies and selling them to friends and relatives at reduced prices. given ted's earlier track record, he was not fired immediately. the authorities decided to give him an administrative leave, without pay, until the investigation was complete. in view of the given information, it would be most appropriate to say that ted was: demoted. discharged. suspended. dismissed.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively