Total utility is maximized when marginal utility becomes (positive, zero, negative).
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
Zero If marginal utility is positive total utility will incr...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Explain why, in economic terms, the total income of union membership is maximized when marginal revenue is zero.
-
1. Arrow up or down: A tax on soft drinks will ______the marginal bang per buck on soft drinks and ______the consumption of goods for which the is now higher. 2. Arrow up or down: The selling of...
-
True or False: 1. Utility is the satisfaction or enjoyment derived from consumption. 2. Economists do not think it is possible to compare the relative satisfaction derived from consumption across...
-
An employee of Gus's Restaurant sustains a work-related injury. The owner of the restaurant is liable for the injury, however, the employee is not covered under the state's workers' compensation...
-
Among its other features, the MyTVLab website allows customers to purchase MyTVLab LifeStyles merchandise online. To handle payment processing, the management of MyTVLab has contracted with the...
-
Indicate in which order the following claims would be settled when distributing the proceeds from liquidating a bankrupt firm: (a) Claims of preferred stockholders; (b) Claims of secured creditors;...
-
Look at the functions presented in Sect. 3.3.2. Now imagine a small hospital (e.g., 350 beds) and a large university medical center (e.g., 1500 beds). What are the differences between these hospitals...
-
The following transactions of Houston Pharmacies occurred during 2015 and 2016: 2015 Jan. 9 Purchased computer equipment at a cost of $13,000, signing a six-month, 9% note payable for that amount. 29...
-
A fan blade increases its speed of rotation from 200 revolutions per minute to 250 revolutions per minute in 1 minute. What is the blade's acceleration in rad/s 2 ?
-
On January 1, 2012, a foundation made a pledge to pay $30,000 per year at the end of each of the next five years to the Cancer Research Center, a nonprofit voluntary health and welfare organization...
-
Sarah spends her monthly entertainment budget on books and movies. Sarahs initial utility-maximizing combination of books and movies is five movies and two books a month. Assume the price of books...
-
For which of the following goods is the utility you get from consuming them likely to be affected by the opinions of others? a. MP3s. b. A new car. c. Running shoes. d. A new laptop for class.
-
A political consultant convened a focus group to evaluate the effectiveness of a commercial promoting a candidate. Prior to running any media, the participants are asked to answer one question: Do...
-
Write the equation of the line that passes through the points (-9, -4) and (-5,-1). Put your answer in fully simplified point-slope form, unless it is a vertical or horizontal line.
-
Write the equation of the line that passes through the points (-8, 7) and (2,-7). Put your answer in fully simplified point-slope form, unless it is a vertical or horizontal line.
-
Gianna is working two summer jobs, making $ 1 0 per hour walking dogs and making $ 1 8 per hour tutoring. In a given week, she can work a maximum of 1 7 total hours and must earn a minimum of $ 2 5 0...
-
How to find wall thickeness of a cyclinder with inside and outside diameter show mathematically.
-
The one-to-one function fis defined below. f(x)=x-5 1 Find f (x), where f is the inverse of f.
-
In Exercises 116, evaluate each algebraic expression for the given value or values of the variable(s). 7(x 3) 2x - 16 for x = 9
-
At Glass Company, materials are added at the beginning of the process and conversion costs are added uniformly. Work in process, beginning: Number of units Transferred - in costs Direct materials...
-
1. Draw the Supply Curves. The following table shows short-run marginal costs for a perfectly competitive firm: a. Use this information to draw the firms marginal cost curve. b. Suppose the shut-down...
-
1. Draw the Supply Curves. The following table shows short-run marginal costs for a perfectly competitive firm: a. Use this information to draw the firms marginal cost curve. b. Suppose the shut-down...
-
1. The long-run supply curve shows the relationship between ________on the horizontal axis and ________on the vertical axis. 2. Arrows up or down: As the total output of an increasing- cost industry...
-
Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $174,000. Project 2 requires an initial investment of $120,000. Annual...
-
A 37 kg object is pulled East by a 400 N force across a level surface. The coefficient of friction between the object and the surface is 0.68. Determine its acceleration.
-
Define both stand - alone risk and portfolio risk and illustrate the differences between them. Explain how diversification impacts the risk profile of an investment portfolio. Provide examples to...
Study smarter with the SolutionInn App