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SHORT ANSWER QUESTIONS 1. Complete the following table. Q(TP) TC TFC TVC ATC AFC AVC MC 100 14.00 12.00 13.00 200 300 12.25 13.50 400
SHORT ANSWER QUESTIONS 1. Complete the following table. Q(TP) TC TFC TVC ATC AFC AVC MC 100 14.00 12.00 13.00 200 300 12.25 13.50 400 500 14.75 2. Suppose that for the last bottle of Diet Coke that Sophie drank she received 25 utils. For the last slice of pizza she consumed she received 35 utils. If the price of Diet Coke is $2.50 and the price of a slice of pizza is $3.00, is she currently consuming her optimal bundle of Diet Coke and pizza? If not, how should she re-arrange her purchases to maximize her utility? If Sophie has $15 to spend on pizza and Diet Coke, show her budget constraint. Identify where she is presently and where her optimal bundle must be. (10 pts
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