This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's ... (Read 493 times)

crobinson2013

  • Hero Member
  • *****
  • Posts: 535
on: Jul 1, 2018
Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's utility is U(p,k) = k0.5p0.5 and income is 100, what is the marginal rate of substitution (MRS) between picnics and kayak trips?
 
  A) MRS = 1.
  B) MRS = -1.
  C) MRS = -1/2
  D) There is no substitution because picnics and kayak trips are perfect complements.

Question 2

People view alcohol and marijuana as perfect substitutes. This means that
 
  A) individuals will consume either alcohol or marijuana, but not both, regardless of price.
  B) as the price of alcohol decreases, marijuana use decreases.
  C) the marginal utility for alcohol and marijuana is constant.
  D) Both B and C.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


crobinson2013

  • Hero Member
  • *****
  • Posts: 535
Reply #2 on: Jul 1, 2018
Thank you :)


Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jul 1, 2018
Happy to help you


Simone Jabbesha Clarke

  • Newbie
  • *
  • Posts: 1
Reply #4 on: Oct 28, 2020
thank you


« previous next »
 

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Acromegaly in one individual from a pair of identical twins. Acromegaly in one individual from a pair of identical twins.
A tail from a different individual - the tail of each humpback whale is visibly unique. A tail from a different individual - the tail of each humpback whale is visibly unique.
Dominance relationships among individuals play an important role in many primate societies. Dominance relationships among individuals play an important role in many primate societies.
Individuals Who Should Be Vaccinated Against Hepatitis B Individuals Who Should Be Vaccinated Against Hepatitis B
How to derive the quadratic formula How to derive the quadratic formula
Sources of Variation in Traits Among Individuals of a Species Sources of Variation in Traits Among Individuals of a Species
Video: Miller's reaction chamber experiment Animation

For a complete list of videos, visit our video library