Suppose that a budget constraint intersects an indifference curve at two separate points. Can either of these
Question:
Suppose that a budget constraint intersects an indifference curve at two separate points. Can either of these consumption bundles be optimal? Explain why or why not.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
The optimal consumption bundle occurs where the budget line is tange...View the full answer
Answered By
WAHIDUL HAQUE
hello,
I'm a professional academic solution provider working as a freelance academic solution provider since 7 years. I have completed numerous projects. Help lots of students to get good marks in their exams and quizzes. I can provide any type of academic help to your homework, classwork etc, if you are a student of Accounting, Finance, Economics, Statistics. I believe in satisfying client by my work quality, rather than making one-time profit. I charge reasonable so that we make good long term relationship. why will you choose me? i am an extremely passionate, boldly honest, ethically driven and pro-active contractor that holds each of my clients in high regards throughout all my business relations. in addition, I'll always make sure that I'm giving my 100% better in every work that will be entrusted to me to be able to produce an outcome that will meet my client's standards. so if you are a student that is now reading my profile and considering me for your academic help. please feel free to look through my working history, feedback and contact me if you see or read something that interests you. I appreciate your time and consideration.
regards
4.90+
233+ Reviews
368+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Using Figure 4, explain why the point of tangency of the budget line with an indifference curve is the consumers equilibrium position. Explain why any point where the budget line intersects an...
-
We begin again with Charlie of the apples and bananas. Recall that Charlies utility function is U(x A , x B ) = x A x B . Suppose that the price of apples is 1, the price of bananas is 2, and...
-
Economist Joel Waldfogel may be America's biggest Grinch. He bemoans what he calls the "deadweight loss of Christmas" created when people give gifts (such as ugly sweaters) the recipients would...
-
Sita lived in a village and could, not afford refrigerator in her house. She knew how to keep water cold and preserve all perishable items in her house. She kept ivet cloth surrounding the earthen...
-
Erin O'Neil Associates reported short-term notes payable and salaries payable as follows: During 2018, O'Neil paid off both current liabilities that were left over from 2017, borrowed cash on...
-
Classify each of the following trusses as statically determinate, statically indeterminate, or unstable. If indeterminate, state its degree. a. b. c. d.
-
Sample wealth (in billions of dollars) for billionaires in Africa and Asia are listed. Find the coefficient of variation for each of the two data sets. Then compare the results. Africa 12.2 7.7 7.2...
-
Indicate whether each of the following actions relates to (a) Managing liquidity and cash flows, (b) Recognition of liabilities, (c) Valuation of liabilities, (d) Classification of liabilities, or...
-
Discuss how men and women differ in their efforts to end their lives. How do marriage, age, and ethnicity influence these differences? 3. Discuss suicide prevention strategies.
-
An empirical expression that reproduces the viscosity of water in the range 20100 C is where 20 is the viscosity at 20C. Explore (by using mathematical software) the possibility of fitting an...
-
Use the information about price and quantity in Table AP-1 to create a graph, with Price on the y-axis and Quantity on the x-axis. Label the resulting curve Demand. What is the slope of that curve?
-
Use the demand schedule in Table CP-1 to answer the following questions. Use the mid-point method in your calculations. a. What is the price elasticity of demand for a price change from $4 to $8? b....
-
Display the graphs of the given functions on a calculator. R = 0.2 log 4 r
-
For a 2000-line encoder sampled at 5 kHz, what is the speed resolution absent filtering?
-
Describe the difference between an operating budget and a capital expenditures budget.
-
Below are six descriptions of internal control problems. In the space to the left of each description, enter the code letter of the internal control principle that is most related to the problem...
-
Describe horizontal analysis. Describe vertical analysis. What is each technique used for? How are the two methods similar? How are they different?
-
Suppose a company has a relatively high inventory turnover. What does the high inventory turnover indicate about the companys short-term liquidity?
-
A survey of 300 parks showed the following. 5 had only camping. 20 had only hiking trails. 35 had only picnicking. 185 had camping. 140 had camping and hiking trails. 125 had camping and picnicking....
-
Which of the companies has the lowest accounts receivable turnover in the year 20X2? a. Company A. b. Company B. c. Company C. d. CompanyD. 20X1 20X2 Credit Sales Average Receivables Balance $1.0...
-
Suppose the government is considering taxing cigarettes. Because it is often politically more popular to tax the producers of cigarettes than the consumers of cigarettes, the government first...
-
The market shown in Figure 6P-5 is in equilibrium. Suppose there is a $15 per unit tax levied on sellers. a. Draw the after-tax supply curve. b. Plot the after-tax price paid by consumers and the...
-
The market shown in Figure 6P-5 is in equilibrium. Suppose there is a $15 per unit tax levied on sellers. a. Draw the after-tax supply curve. b. Plot the after-tax price paid by consumers and the...
-
1. How many meters are there in 110 yards? 2. What is the equivalent length in inches of 2.5 m? 3. The weight of an object is 2.5 lb. What is the equivalent force and mass in the SI system of units?
-
An object is moving on a circular path of radius 3 . 0 meters at a constant speed. The time re revolution is 4 . 7 s. What is the acceleration of the object?
-
If the emitted infrared radiation from the asteroid Ceres, have a wavelength of maximum intensity at 20,000 nm, what is the temperature of Ceres assuming Wien's Law?
Study smarter with the SolutionInn App