Benny spends all of his money buying wine and cheese. diminishing marginal utility applies to both goods. the marginal utility of the last bottle of wine he bought is 60, and the marginal utility of the last block of cheese he bought is 30. the price of wine is $3, and the price of cheese is $2. benny: should buy more cheese and less wine. is spending too much money on wine and cheese. is buying wine and cheese in the utility-maximizing amounts. should buy more wine and less cheese.

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?

Which of the following tasks would be a line cook's main responsibility? oa. frying french fries ob. chopping onions oc. taking inventory of stocked dry goods od. paying invoices

Demand increases by less than supply increases. as a result, (a) equilibrium price will decline and equilibrium quantity will rise. (b) both equilibrium price and quantity will decline. (c) both equilibrium price and quantity will rise