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HI, can you help me on these and explain 11 Assume that a consumer purchases a combination of products Y and Z and that the

HI, can you help me on these and explain

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11 Assume that a consumer purchases a combination of products Y and Z and that the MUy/Py= 30/2 and MU,/P- = 45/3. To maximize utility. without spending more money. the consumer should Multiple Choice :BOOK O purchase less of Y and more of Z. O purchase more of Y and less of Z. O purchase more of both Y and Z. O make no change in the quantities Y and Z.12 Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18 Units of L Total Utility Units of M Total Utility 1 9 1 16 2 15 2 28 3 18 36 4 20 40 BOOK UT 21 5 42 How many units of the two products will the rational consumer purchase? Multiple Choice O 3 of L and none of M O 4 of L and 2 of M O 3 of L and 5 of M O 2 of L and 3 of M10 Answer the question on the basis ofthe following cost data. But put Total Cost \" eEool: The average variable cost. of producing 3 units of output is Multiple Cholce 03mm 524. O 0 $16.00. 0 $1200. 7 Assume that in the short run a firm is producing 500 units of output, has average total costs of $300, and has average variable costs of $220. The firm's total costs are. Multiple Choice eBOOK O $150.000. O $110,000. O $80. O $40,000.8 Harvey quit his job at State University, where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $5,000 a year. To start the business, he cashed in $100,000 in bonds that earned 10 percent interest annually to buy a software company. Extreme Gaming. In the first year, the firm sold 11,000 units of software at $75 for each unit. Of the $75 per unit. $55 goes for the costs of production, packaging. marketing. employee wages and benefits. and rent on a building. The total revenues of Harvey's firm in the first year were Book Multiple Choice O $220.000. O $105,000. O $605,000. O $825,000.9 The following is cost information for the Creamy Crisp Donut Company. Entrepre neur's potential earnings as a salaried worker = $40.00!) Annual lease on building = $25000 Annual revenue from operations = $420000 Payments to workers = $150000 Q Utilities (electricity. water. disposal: costs = $8.000 9mm Value of entrepreneurs talent in the next best entrepreneurial activity = $80000 Entrepre neur's forgone interest on personal funds used to nance the business = $6.000 Creamy Crisp's explicit costs are Multiple Choice 01131030011 $183,030. $189,030. 0 0 3111.000. 0

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