Miles is three years old and his grandparents have given him money to spend at the toy store as a birthday present. miles' number one favorite thing to play with is building blocks. assume that miles' utility will increase by 100 units if he purchases a new set of building blocks and and it will cost him $50. his second favorite thing to play with is fire trucks. fire trucks cost $20 and each new fire truck improves miles' utility by 80 units. his third favorite toy is trains. trains improve his utility by 15 units and cost $5 each. miles does not have to spend all of his money at once, but wants to get as much happiness as possible from his money. if miles buys only one toy, which should he buy to maximize his utility? a fire truck building blocks a train which relationship between marginal utility (mu) and price (p) indicates that a consumer is maximizing his or her utility regarding spending on two goods? muxpx = muypy mux+muy = px+py mux−px = muy−py muxmuy = pypx

Answer the following questions with true or false and provide a brief explanation (2- 3 sentences) a) economies of scale in production give rise to multi-product firms. b) ace hardware corporation is an example of economies of scale in production.

Which of the following best explains why treasury bonds have an effect on the size of the money supply? a. the amount of treasury bonds in circulation affects both unemployment and inflation. b. the government can spend more money and charge lower taxes by using treasury bonds. c. the federal reserve bank can buy and sell these bonds to raise or lower bank deposits. d. the interest paid on treasury bonds influences the interest rates charged by private banks. 2b2t

The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet