Kevin lives in New York City and loves to eat desserts. He spends his entire weekly allowance on yogurt and pie. A bowl of yogurt is priced at $1.25, and a piece of pumpkin pie is priced at $5.00. At his current consumption point, Kevin's marginal rate of substitution (MRS) of yogurt for pie is 5. This means that Kevin is willing to trade five bowls of yogurt per week for one piece of pie per week.
Does Kevin's current bundle maximize his utility—in other words, make him as well off as possible? If not, how should he change it to maximize his utility?
A. Kevin's current bundle maximizes his utility, and he should keep it unchanged.
B. Kevin could increase his utility by buying more yogurt and less pie per week.
C. Kevin could increase his utility by buying less yogurt and more pie per week.

Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?

Bernard made a gift of $500,000 to his brother in 2014. due to bernard’s prior taxable gifts he paid $200,000 of gift tax. when bernard died in 2019, the applicable gift tax credit had increased. at bernard’s death, what amount related to the $500,000 gift to his brother is included in his gross estate?

6. why the aggregate supply curve slopes upward in the short run in the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. several theories explain how this might happen. for example, the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. consider a soybean farmer who expects a price level of 100 in the coming year. if the actual price level turns out to be 90, soybean prices will , and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by the quantity of soybeans supplied. if other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to the natural level of output in the short run.