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 502 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?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Pharmacogenomics, Genetic makeup, Drug development, Individual response to drugs, Prescriptions Pharmacogenomics, Genetic makeup, Drug development, Individual response to drugs, Prescriptions
Achondroplasia. The individual in this photograph has the reduced limb development that typifies thi Achondroplasia. The individual in this photograph has the reduced limb development that typifies thi
This advertisement from about 1885 represents an early stage of capitalism when individuals were ... This advertisement from about 1885 represents an early stage of capitalism when individuals were ...
How to derive the quadratic formula How to derive the quadratic formula
The karyotype of an XYY male. Affected individuals are usually taller than normal, and some, but not The karyotype of an XYY male. Affected individuals are usually taller than normal, and some, but not
DNA fingerprint at two VNTR loci for two individuals DNA fingerprint at two VNTR loci for two individuals
Video: Rena arc construction

For a complete list of videos, visit our video library