« previous next »

Author Question: Lucy buys only magazines and CDs. Both are normal goods. Lucy's income decreases, but the prices of ... (Read 192 times)

nmorano1

  • Hero Member
  • *****
  • Posts: 598
on: Jun 29, 2018
Lucy buys only magazines and CDs. Both are normal goods. Lucy's income decreases, but the prices of magazines and CDs do not change. Marginal utility theory predicts that Lucy will ________.
 
  A) buy fewer magazines and fewer CDs
  B) substitute magazines for CDs
  C) increase her marginal utility from both magazines and CDs by buying more magazines and CDs
  D) buy more magazines and more CDs

Question 2

The short-run market supply curve is
 
  A) the sum of the quantities supplied by all the firms.
  B) undefined because the number of firms is constant in the short run.
  C) vertical at the total level of output being produced by all firms.
  D) horizontal at the current market price.


xMRAZ

  • Sr. Member
  • ****
  • Posts: 363
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

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?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

The More Things Change, The More They Say the Same: Dividing the Nation's Income The More Things Change, The More They Say the Same: Dividing the Nation's Income
The anatomical distortion of the structure of RBCs in sickle cell anemia affects its normal function ... The anatomical distortion of the structure of RBCs in sickle cell anemia affects its normal function ...
Normal vs. Frank Breech Normal vs. Frank Breech
Effect of an Exogenous Shift in Income Effect of an Exogenous Shift in Income
Loss of brain cells in a transgenic Huntington-disease mouse. (a) Section of normal mouse-brain stri Loss of brain cells in a transgenic Huntington-disease mouse. (a) Section of normal mouse-brain stri
Brain metabolism in a schizophrenic individual (left) and a normal individual (right). These scans o Brain metabolism in a schizophrenic individual (left) and a normal individual (right). These scans o
Video: Facilitated Diffusion - Glucose transport

For a complete list of videos, visit our video library