Why doesnt consumer equilibrium imply that the ratio of total utility per dollar is the same for

Question:

Why doesn’t consumer equilibrium imply that the ratio of total utility per dollar is the same for different goods?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Exploring Economics

ISBN: 9781544336329

8th Edition

Authors: Robert L. Sexton

See More Books

Question Posted: Jan 17, 2023 05:42 AM

See More Questions

The ratio of total liabilities to total assets for the 12 largest bank holding companies for a recent year are shown in the table below. The average ratio of total liabilities to total assets for the...
Calculate the ratio of total real government purchases to real GDP, quarterly, from 1947 to 2015. Also calculate the real interest rate on a quarterly basis as a three-month Treasury bill rate minus...
1. How can looking at the ratio of total assets to total liabilities mislead an analyst? 2. A company has book equity of $20. After it is acquired, the combined balance sheet shows goodwill of $70,...
For the Somerset furniture Company described in Case Problem 10.1 in Chapter 10, determine the product lead time by developing a time line from the initiation of a purchase order to product delivery....
Assume a corporation has $400,000 in earnings and 200,000 shares outstanding ($2 in earnings per share). Also assume there are warrants outstanding to purchase 40,000 shares at $25 per share. The...
What is meant by recoverable amount? When are assets to be written down to recoverable amount? What must an entity do if it is unable to determine the recoverable amount of an individual asset?
Kelly Services is an employment agency that places individuals in temporary positions. Kelly makes placements in accordance with business clients needs and preferences. Asthma Suliman, a Muslim...
Millbridge Hospital buys its supplies in bulk and has recently switched vendors. The first purchase Millbridge made was for 500 boxes of gauze at $3.46 a box. The purchase had payment terms of 2/15...
after determing a reported vulnerability was a credible claim the product security incident response team worked with develpment teams to create and test a patch. the patch is schedule t obe released...
In perfectly competitive markets, products are ______ and sellers are ______. a. Homogeneous; price takers b. Homogeneous; price searchers c. Substantially different; price takers d. Substantially...
Why do most cities have more stringent noise laws for the early morning and late evening hours than for during the day?
Outline the process through which rocks are recycled over geologic time? How are they connected?
You have a ruler and 1 0 pennies again. You place three pennies on the ruler at the 1 i n . c m mark and seven pennies on the ruler at the 8 in . ( 2 0 c m ) mark. Without picking up the ruler, can...
Determines whether the current DNFB case rate meets the standard with details on state standards and current rate. DNFB Standards o DNFB Case Rate: Less than 2% for the reporting period. The case...
Stock Valuation using a Dividend Discount Model Roadrunner Enterprises is expected to grow its dividends and earnings at various rates. The company just paid a cash dividend of $3.00 per share. The...
A speculator owns a portfolio of options on Apple stock. The speculator is long 15 call option contracts with a strike price of $170 per share, the speculator is short 30 call option contracts with a...
Given the utility function, u = xx2, and the budgetary constraint is, x + 4x2 = 360. (a) (5 points) Find the utility function in terms of x only (i.e., u = f(x1)) using the budgetary constraint. (b)...
Individual level performance pay systems have been heavily criticized by scholars and other experts. Using merit pay as an example, discuss the pros and cons of individual performance pay systems.
Subprime loans have higher loss rates than many other types of loans. Explain why lenders offer subprime loans. Describe the characteristics of the typical borrower in a subprime consumer loan.
Suppose a tax is such that an individual with an income of $10,000 pays $2,000 of tax, a person with an income of $20,000 pays $3,000 of tax, a person with an income of $30,000 pays $4000 of tax....
True or false. The incidence of property taxes that are levied on rented houses and apartments is highmeaning that they are paid almost entirely by the landlords, who are billed by the government for...
Suppose George made $20,000 last year and that he lives in the country of Harmony. The way Harmony levies income taxes, each citizen must pay 10% in taxes on their first $10,000 in earnings and then...
You are given 2 DFAs M = (Q1, 2, 81, 910, F) and M2 = (Q2, 2, 82, 920, F2). We want to construct a DFA M = (Q, , 8, 90, F) recognizing the concatenation (Q,, L(M1) L(M2). One solution would be as...
Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $ 8 5 0 . Selected data for the companys operations last year follow:...
3. (30 pts) In a small LTE network we intend to calculate the carrier to interference ratio (C/I) that a mobile subscriber is experiencing when is connected to its serving cell station. The network...

Why doesnt consumer equilibrium imply that the ratio of total utility per dollar is the same for

Question:

Step by Step Answer:

It is the additional or marginal utility per do...View the full answer

Exploring Economics

Students also viewed these Business questions