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30. In a move to free the economy from unnecessary regulation, Congress decides to remove sugar price supports. What would most likely happen to the number of producers of sugar? a. It would decrease, because sugar prices would fall b. It would decrease, because sugar prices would rise. c. It would increase, because sugar prices would fal. d. It would increase, because sugar prices would rise. A bottle of wine costs $8 and a quiche, S5. At Roberts present levels of consumption, he spends all his income and receives marginal utility of $10 from the last bottle of wine and marginal utility of $4 from the last quiche. To maximize his total utility, Robert should a. buy less wine and more quiche b. buy more wine and less quiche. c. spend all of his money on wine. d. spend all of his money on quiche 31. 32. Elaine values the utility of her first cup of coffee at S1; a second cup, $.75, and a third cup, s.s0. If Elaine drinks three cups of coffee for breakfast, her total utility (maximum satisfaction) is equal to a. $.50, the value of her last cup of coffee. b. $1.00, the value of her first cup of coffee. c. marginal utility. d. $2.25
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