Suppose That Tip Can Write 4 Pages of Term Papers

question 18

Multiple Choice

Suppose that Tip can write 4 pages of term papers or solve 8 workbook problems in an hour, while Spot can write 5 pages of term papers or solve 15 workbook problems in an hour.If they each decide to work a total of 5 hours and to share their output, then if they produce as many pages of term paper as possible given that they produce 16 workbook problems,

• A)Spot will spend all of his time writing term papers and Tip will spend some time at each task.
• B)Spot will write term papers only and Tip will do workbook problems only.
• C)both students will spend some time at each task.
• D)Tip will spend all of his time writing term papers and Spot will spend some time at each task.
• E)Tip will write term papers only and Spot will do workbook problems only.

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Definitions:

Income

The money received by a person or organization, typically in exchange for goods, services, or investments.

Total Utility

The complete satisfaction or pleasure a consumer derives from consuming a certain quantity of a good or service.

Marginal Utility

The extra pleasure a customer receives from using an additional unit of a product or service.

Donuts

A type of fried dough confection or dessert food, commonly shaped in a ring or filled, known for its sweet taste and various toppings.