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Author Question: An increase in Todd's wealth from 2 million to 4 million raises his utility from 400 units to 500 ... (Read 80 times)

vHAUNG6011

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on: Jun 29, 2018
An increase in Todd's wealth from 2 million to 4 million raises his utility from 400 units to 500 units. If he has a utility of wealth curve with the typical shape showing risk aversion, then with a wealth of 6 million his utility might be
 
  A) 500 units.
  B) 570 units.
  C) 600 units.
  D) 620 units.

Question 2

The table above gives the demand schedule for water bottled by Wanda's Healthy Waters. Wanda's marginal cost is a constant 4 a bottle and has no fixed cost. Wanda's makes an economic profit of ________ a day.
 
  A) 0
  B) 24
  C) 36
  D) 60


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Edwyer

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


vHAUNG6011

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

meganmoser117

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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