Charlie's Utility Function Is U(A, B)= AB, Where a and B

question 21

Multiple Choice

Charlie's utility function is U(A, B) = AB, where A and B are the numbers of apples and bananas, respectively, that he consumes.If Charlie is consuming 35 apples and 175 bananas, then if we put apples on the horizontal axis and bananas on the vertical axis, the slope of his indifference curve at his current consumption is

• A)-36.
• B)-10.
• C)-1/5.
• D)-5.
• E)-1/10.

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Definitions:

Bricklayers

Skilled tradespeople who lay bricks to construct brickwork, an essential component in building structures from walls to pathways.

Equilibrium Market Wage Rate

The wage rate at which the quantity of labor firms wish to employ equals the quantity of labor workers wish to supply.

Quantity Demanded

The overall volume of a commodity or service that is desired and can be bought by consumers at a specific price point.

Market Wage Rate

This is the prevailing rate of pay for workers in a particular job or industry, determined by the supply of and demand for labor.