At a consumer optimum involving goods A and B, the marginal utility of good A is twice
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
The price of good B is 350 The marginal utility of good A is two times the marginal utility of ...View the full answer
Answered By
SUMAN DINDA
I LIKE TO TEACH STUDENTS. SO, I START MYSELF AS A PRIVATE TUTOR. I TEACH STUDENTS OF DIFFERENT CLASSES. I HAVE ALSO DONE BACHELOR OF EDUCATION DEGREE(B.ED). DURING THIS COURSE I HAD TO TEACH IN A SCHOOL. SO I HAVE A GOOD EXPERIENCE IN TEACHING.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
At a consumer optimum involving goods X and Y, the marginal utility of good X equals 3 utils. The price of good Y is three times the price of good X. What is the marginal utility of good Y?
-
The marginal utility of good A is 4 utils, and its price is $2.The marginal utility of good B is 6 utils, and its price is $1. Is the individual consumer maximizing (total) utility if she spends a...
-
Now, repeat Question 2, but with the following different assumption on preferences. If we denote goods consumption by G and leisure by L, assume that the household's preferences are such that the...
-
Governments assert that their safety standards for food imports are important to ensure that their citizens not be harmed by unsafe foods. Comment on how such a concern may be a nontariff barrier.
-
In Caan Company it costs $30 per unit ($20 variable and $10 fixed) to make a product at full capacity that normally sells for $45. A foreign wholesaler offers to buy 3,000 units at $24 each. Caan...
-
I want you to make a product list using JFrame/pallete in java NetBeans. You have to do the GUI and show me how to you it and what is your output. Program Requirements: The user can add or remove a...
-
Name activities in software development covered by various methodologies. Can you explain why more than one methodology is needed in developing a piece of software?
-
Most publicly traded companies are analyzed by numerous analysts. These analysts often dont agree about a companys future prospects. In this exercise you will find analysts ratings about companies...
-
Let L = Let K = 1 23 456 1 2 1 00 Explain why L has an inverse and find it. 1 2 0 and define J = KL 1 where L is the matrix in 123 the previous question. Find all solutions x of the equation Jx = 0.
-
SorCo. Inc. has Just entered into a sale agreement with a customer. The contract is for $1,350,000. However, the payments will be made as follows: 1 August 20X1 on date of delivery $550,000; 1 August...
-
In Problem 20-12, if the consumer's income rises to $190 per week, what new quantities characterize the new consumer optimum?
-
As an individual consumes more units of an item, the person eventually experiences diminishing marginal utility. This means that to increase marginal utility, the person must consume less of an item....
-
In Exercises 93102, solve each equation. 3 log x 60
-
Which of the following statements is most accurate? 1. Terrorism and terrorism financing were not a concern prior to September 11, 2001. 2. In contrast to drug trafficking, money laundering is a not...
-
Of all the attributes necessary for an investigation to be successful, with which of the following characteristics should the professional be most concerned? 1. Credibility 2. Defendable report 3....
-
Why is it difficult to convict organized crime leaders?
-
With regard to tax avoidance and tax evasion, which of the following is most accurate? 1. Tax evasion is another term for tax fraud. 2. Tax avoidance and tax evasion are essentially the same...
-
What are the means by which cybercriminals meet and agree to participate in such an activity?
-
Dustin Mosely financed the purchase of two cars with a loan from Show-Me Credit Union (SMCU). When Mosely stopped making payments on the loan, SMCU notified him that it intended to repossess the cars...
-
Pearson Education, a publisher of college textbooks, would like to know if students prefer traditional textbooks or digital textbooks. A random sample of students was asked their preference and the...
-
Is Davidson Masonry member managed or manager managed? Marilyn Rowe, decided to submit a bid for a decorative concrete project that incorporated artistic metalwork. They contacted Shana Lafayette, a...
-
When Davidson Masonry and Lafayette entered an agreement to work together, what kind of special business form was created? Explain. Marilyn Rowe, decided to submit a bid for a decorative concrete...
-
Suppose that during construction, Lafayette had entered into an agreement to rent space in a warehouse that was close to the bridge so that she could work on her sculptures near the site where they...
-
A couple obtained a $20,000 mortgage loan at an interest rate of 10.5% compounded monthly. (Original principal equals to PV of all payments discounted at the interest rate on the loan contract) (1)...
-
What strategies and tactics are employed to manage strategic risks and uncertainties, including geopolitical instability, supply chain disruptions, and emerging competitive threats, while preserving...
-
How do strategic planners integrate ethical considerations and sustainability imperatives into strategic planning processes, balancing short-term financial objectives with long-term societal and...
Study smarter with the SolutionInn App