Question: 1. Explain why it must be true, even for someone trying to lose weight, that the last bite of food consumed must have positive marginal

1. Explain why it must be true, even for someone trying to lose weight, that the last bite of food consumed must have positive marginal utility at a consumer optimum?
2. What is true of the marginal utility per dollar spent on a stomach pacemaker compare with the marginal utility per dollar of food consumed during that interval?

Step by Step Solution

★★★★★

3.30 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

1 People will stop food consumption only if an additional bite of food gen... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1282-B-E-M-E(7551).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

For one or more of the following groups, write two or three paragraphs of psychological description that could be used in a brochure, news release, or direct mail message directed to members of that...

Answer the following questions either true or false: (a) If asset A is stochastically dominant over asset B according to the second-order criterion, it is also dominant according to the first-order...

"When the yield curve is upward sloping, the fixed rate on a multiyear swap must be higher than the current level of LIBOR. With a downward-sloping yield curve, the opposite will occur." Explain what...

I need to write up a case study considering the following questions. HELP. Prepare "Metabical: Pricing, Packaging and Demand Forecasting Case. Questions for consideration: Calculate the 5-year unit...

Given this article I included below these questions, can someone please help?! It is NOT for marks just practise. 1.What is the general objective of the research? 2.) What are the...

Case of Study 1 - Metabical: Pricing, Packaging, and Demand Forecasting for a New Weight-Loss Drug 1. What key issues and their implications are highlighted in this case (both financial and...

6 | Consumer Choices Figure 6.1 Investment Choices Higher education is generally viewed as a good investment, if one can afford it, regardless of the state of the economy. (Credit: modification of...

QUESTION 1 No matter what the price of orangejuice is ,Jill spends $20 a week on orangejuice. We can conclude that the absolute value of the price elasticity of demand for orange juice forJill is O...

HI PLEASE ANSWER ALL 1. Assume the market for apples is initially in equilibrium. Which of the following will result in a higher equilibrium price of apples? a. An increase in both the demand for and...

What are the Types of Information Gathered Using Surveys?

You are considering investing in the Swisher Ltd. and to make your deasion you have obtained the following financial information: Current Year Preceding Year Balance Sheet 28,000 $ 10,000 $ Cash...

Mistakes made when estimating a project s cost of capital can lead to distorted allocation of capital among projects and eventually to value destruction. When in doubt, always remember that a project...

How can the central bank reduce the level of reserves? What happens to the supply curve for reserves?

Jaspal has a serious heart attack and is taken to the hospital. He is aware that he is not expected to live. Because he is a bachelor with no close relatives nearby, Jaspal gives his car keys to his...

Curtis is an executive on a business trip to the West Coast. He has driven his car on this trip and checks into the Hotel Ritz. The hotel has a guarded underground parking lot. Curtis gives his car...

Bill Heise is a janitor for the First Mercantile Department Store. While walking to work, Bill finds an expensive watch lying on the curb. Bill gives the watch to his son, Otto. Two weeks later,...

HELPPLZ each year for 10 years. How much money should you plan to deposit in your retirement each year? Instead of using Solver, use PV and PMT to solve for annual deposit:...

A B D E F E17-2 (LO 1, 2, 4) Weighted Average Number of Shares Gogeon Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common...

2. Asuma que las transacciones del mes de noviembre, para KAT. Co., son las siguientes \begin{tabular}{|l|l|l|} \hline & a. & Recibi efectivo por $60,000 de los inversionistas a cambio de acciones...