Jon enjoys fishing (which costs $20) and golf (which costs $30). last month, jon fished four times and golfed twice. the last fishing outing provided jon a marginal utility of 50, and the last round of golf provided a marginal utility of 120. did jon maximize his utility according to the utility maximization rule?

a) yes, jon's utility is maximized.
b) no, the marginal utility per dollar from fishing was higher than that for golf.
c) no, the marginal utility per dollar from golf was higher than that for fishing.
d) no, jon should have spent less time on both activities.

Suppose that hubert, an economist from an am talk radio program, and kate, an economist from a nonprofit organization on the west coast, are arguing over government bailouts. the following dialogue shows an excerpt from their debate: kate: to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. hubert: indeed, it’s gotten crazy! a government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. kate: i don’t know about that. without a bailout of severely distressed financial firms, the economy will experience a deep recession. the disagreement between these economists is most likely due todifferences in scientific judgments . despite their differences, with which proposition are two economists chosen at random most likely to agree? business managers can raise profit more easily by reducing costs than by raising revenue. central banks should focus more on maintaining low unemployment than on maintaining low inflation. employers should not be restricted from outsourcing work to foreign nations