« previous next »

Author Question: If it costs 6.00 to go to the movies and 25.00 to go to a hockey game, Tom is maximizing his utility ... (Read 99 times)

Tirant22

  • Hero Member
  • *****
  • Posts: 532
on: Jun 29, 2018
If it costs 6.00 to go to the movies and 25.00 to go to a hockey game, Tom is maximizing his utility between movies and hockey if his marginal utility of movies is 12 units and his marginal utility from hockey is 50.
 
  Indicate whether the statement is true or false

Question 2

An income tax system in which the average tax rate decreases with the level of income is called a
 
  A) progressive income tax system.
  B) proportional income tax system.
  C) regressive income tax system.
  D) flat-rate income tax system.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


zhanghao

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Tropical grassland of the Masai Mara Game Reserve in Kenya Tropical grassland of the Masai Mara Game Reserve in Kenya
Cellcraft Game Cellcraft Game
Economic Costs of CVD Economic Costs of CVD
Which aspect of executive functioning is required to play the game of “Simon Says,” in which ... Which aspect of executive functioning is required to play the game of “Simon Says,” in which ...
Hockey stick” curve Hockey stick” curve
Henrik, a Canadian hockey player, agreed to a contract where he was to receive S30,OOO 00 in 3 ... Henrik, a Canadian hockey player, agreed to a contract where he was to receive S30,OOO 00 in 3 ...
Video: Exocytosis - secretion

For a complete list of videos, visit our video library