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

Author Question: Sarah spends 100 a year on magazines and ice cream. The table above shows her utility from each ... (Read 114 times)

ts19998

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Sarah spends 100 a year on magazines and ice cream. The table above shows her utility from each good. If the price of a magazine is 5 and the price of ice cream is 5 per gallon, how does Sarah spend the 100?
 
  What will be an ideal response?

Question 2

Higher ethanol production definitely and directly raises the price of corn, said USDA economist Ephraim Leibtag. In the short run in the corn market, what is TRUE if the production of ethanol increases?
 
  A) The demand curve for individual corn farmers will shift upward.
  B) The price individual corn farmers receive will decrease.
  C) The total cost curve for individual corn farmers will shift upward.
  D) The marginal cost curve for individual corn farmers will shift downward.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

AmberC1996

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

Sarah buys 6 magazines and 14 gallons of ice cream. She spends 100 and her marginal utility per dollar from magazines and ice cream is the same, 3.6 units per dollar.

Answer to Question 2

A


ts19998

  • Member
  • Posts: 531
Reply 2 on: Jun 29, 2018
Wow, this really help

peter

  • Member
  • Posts: 330
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Complete the table by dragging the white labels to the gray targets, the blue la Complete the table by dragging the white labels to the gray targets, the blue la
Newest Periodic Table Newest Periodic Table
Periodic table of the elements Periodic table of the elements
table table
Table Table
A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ... A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ...
Video: SNP Polymorphysim Microarray Chip - How to Test a Person's DNA

For a complete list of videos, visit our video library