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

Author Question: In the above figure, as Brendan's income rises his consumption bundle moves from point A to point C. ... (Read 84 times)

kshipps

  • Hero Member
  • *****
  • Posts: 571
on: Jun 29, 2018
In the above figure, as Brendan's income rises his consumption bundle moves from point A to point C. This implies that for Brendan, compact discs are ________ good and haircuts are ________ good.
 
  A) a normal; an inferior
  B) a normal; a normal
  C) an inferior; an inferior
  D) an inferior; a normal

Question 2

Amy has the total utility values given above for DVD rentals a week. Complete the table by calculating her marginal utilities.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ciecieme

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Quantity
(rentals per week) Total utility Marginal utility
0 0 X
1 28 28
2 54 26
3 78 24
4 100 22
5 120 20
6 138 18
7 154 16

The completed table is above.


kshipps

  • Hero Member
  • *****
  • Posts: 571
Reply #2 on: Jun 29, 2018
Thank you :)


ciecieme

  • Sr. Member
  • ****
  • Posts: 331
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Graph showing how the boiling point of the coolant increases as the percentage of antifreeze in ... Graph showing how the boiling point of the coolant increases as the percentage of antifreeze in ...
The left-hand rule states that if a coil is grasped with the left hand, the fingers will point in ... The left-hand rule states that if a coil is grasped with the left hand, the fingers will point in ...
The distribution of cones and rods over the human retina. The figure illustrates the number of cones ... The distribution of cones and rods over the human retina. The figure illustrates the number of cones ...
Figure-8s on the toes mobilize joints of the foot. Figure-8s on the toes mobilize joints of the foot.
Simultaneous Determination of Income and Modernization Simultaneous Determination of Income and Modernization
An aqueous solution has a normal boiling point of 103.0C. What is the freezing point of this ... An aqueous solution has a normal boiling point of 103.0C. What is the freezing point of this ...
Video: Mitochondrial Structure & ETC Protein Complexes (Protein Complexes and Electron Transport)

For a complete list of videos, visit our video library