When the price of a burger is $4, the price of pasta is $8 a dish, and
Question:
When the price of a burger is $4, the price of pasta is $8 a dish, and Martha has $24 a week to spend, she buys 2 burgers and 2 dishes of pasta. Does she maximize her total utility? Explain your answer.
Use the table, which shows Martha’s total utility from burgers and pasta,
Transcribed Image Text:
Quantity per week 0 - 2 3456N Burgers Total utility 0 10 18 25 31 36 40 Dishes per week 0 1 234 Pasta 5 6 Total utility 0 20 36 48 56 60 62
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
Martha is maximizing her utility because s...View the full answer
Answered By
Felix Mucee
I am a detailed and thorough professional writer with 5 years of administrative experience- the last 2 years in academic writing and virtual office environment. I specialize in delivering quality services with respect to strict deadlines and high expectations. I am equipped with a dedicated home office complete with a computer, copier/scanner/fax and color printer.
I provide creative and detailed administrative, web search, academic writing, data entry, Personal assistant, Content writing, Translation, Academic writing, editing and proofreading services. I excel at working under tight deadlines with strict expectations. I possess the self-discipline and time management skills necessary to have served as an academic writer for the past five years. I can bring value to your business and help solve your administrative assistant issues.
4.70+
13+ Reviews
33+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
When the price of a burger is $4, Martha has $24 to spend, and the price of pasta falls from $8 to $4 a dish, how many burgers and dishes of pasta does Martha buy? What are two points on Marthas...
-
Explain how term to maturity affects the price of a bank loan.
-
When the price of shoes goes up, Tara goes right on buying just as many shoes as before. True or False: Shoes could not possibly be an inferior good for Tara.
-
Cost of goods available for sale consists of two elements: beginning inventory and: (a) ending inventory. (b) cost of goods purchased. (c) cost of goods sold. (d) All of the answer choices are...
-
Who records the inventory in a product financing agreement? Why?
-
Lenders are willing to make low-down-payment FHA loans because the FHA guarantees the entire loan. guarantees the top 25% of the loan. insures the entire amount of the loan. insures the top 25% of...
-
Incomplete combustion gives: (a) \(\mathrm{CO}_{2}\) (c) Carbon (b) \(\mathrm{CO}\) (d) None of these
-
Yuan Li Ltd. is a retailer that uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there...
-
7. Are there issues associated with keeping the large sum of money in accumulated earnings? The corporation has a large amount of money in retained earnings. The corporations retained earnings...
-
Joe Truman, a retired army officer, opened Truman?s Catering Service. As his accountant, analyze the transactions listed next and present them in proper form. 1. The analysis of the transactions by...
-
Sara buys bread and bananas and is maximizing her total utility. If the price of bananas rises, Sara will maximize her total utility by ______. A. Increasing her budget so that she can buy the same...
-
Susie spends $28 a week on sundaes and magazines. The price of a sundae is $4 and the price of a magazine is $4. The table shows Susies marginal utility from sundaes and magazines. How many sundaes...
-
Under what conditions would Apple opt to use a defensive strategic market plan?
-
Using this link, https://www.apa.org/workforce/index?_ga=2.244899072.469430581.1660061777-687191231.1660061777 answer the following question... There are only three areas within the field of...
-
1. Ronnie Gilley Properties, LLC (Gilley), wrote a check to Cile way Properties, LLC (Cile), for $100,000. when Cile deposited the check in its bank, it was misencoded in the amount of $1,000. As a...
-
After a series of all-day meetings with software vendors, the CEO, COO and CFO of a hospital evaluated their options and decided on a course of action. As they began implementing the new electronic...
-
A newly married couple is looking for a new 3-bedroom house in London. They surveyed 12 houses they liked and recorded the price and the distance from the nearest station of those houses. The data is...
-
As a rule of thumb, what assets should be used FIRST during retirement so as to minimize the tax liability for spouses/common-law partners? a) non-registered assets of the higher income spouse or...
-
A variety of information has been gathered from a sample of college freshmen and seniors, including their region of birth, the extent to which they support legalization of marijuana (measured on a...
-
A summary of changes in Pen Corporation's Investment in Sam account from January 1, 2011, to December 31, 2013, follows (in thousands): ADDITIONAL INFORMATION 1. Pen acquired its 80 percent interest...
-
Explain how advances in technology change labor productivity. Do diminishing returns arise? Provide an example of an advance in technology. Use a graph of the productivity curve to illustrate your...
-
Explain how an increase in human capital changes labor productivity. Do diminishing returns arise? Provide an example of an increase in human capital. Use a graph of the productivity curve to...
-
What were the sources of labor productivity growth in the U.S. economy during the fifty years since 1960? How did the 1960s differ from the more recent decades?
-
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are...
-
Compute the price of a 6.1 percent coupon bond with 15 years left to maturity and a market interest rate of 10.0 percent. (Assume interest payments are semiannual.) Note: Do not round intermediate...
-
A project that costs $2,400 to install will provide annual cash flows of $590 for the next 5 years. The firm accepts projects with payback periods of less than 5 years. a. What is this project's...
Study smarter with the SolutionInn App