No explanation please

1.Suppose the consumer has $40, which she spends on milk and cookies. Suppose the price of milk is $2 and the price of cookies is $2. If so, this "utility" maximizing consumer's marginal rate of substitution (MRS) is

Group of answer choices

-1

0

-2

4

2.When the price of pizza falls (and Pepsi and pizza are normal goods) the income effect causes

Group of answer choices

Pepsi to be relatively more expensive, so the consumer buys more Pepsi

the consumer to feel richer, so the consumer buys more Pepsi

the consumer to feel richer, so the consumer buys less Pepsi

Pepsi to be relatively less expensive, so the consumer buys less Pepsi

3.In economic theory, marginal product (MP) refers to

Group of answer choices

an increase in total output obtained from one additional unit of input

a change in total output associated with a $1.00 increase in total cost

an increase in total cost resulting from the hiring of an additional worker

an increase in total cost associated with a one-unit increase in production