Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $25 Units of L Total Utility Units of M Total Utility 1 9 16 2 15 28 3 18 36 4 20 4 40 21 5 42 What level of total utility does the rational consumer realize in equilibrium? Multiple Choice 162 utils 86 utils 58 utils 51 utils

During the Middle-Ages, the African city of Taghaza (located in modern day Mali and known as one of the hottest and driest places on Earth, it gets 11 millimeters of rain a year and the average high temperature from April to September is over 100 degrees) quarried salt sent to market in Timbuktu (also in Mali). With the climate being so hot and dry, locals used salt blocks for construction of buildings. Compared to other towns without salt was the demand for wood more or less elastic in Taghaza? Why?

Explain what is meant by opportunity cost of choice

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So is the answer C or D?

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