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

Author Question: Rationality in the household decision-making process means that a. all households make the same ... (Read 61 times)

go.lag

  • Hero Member
  • *****
  • Posts: 667
on: Jul 1, 2018
Rationality in the household decision-making process means that
 a. all households make the same decisions
  b. everyone in the household agrees on all decisions
  c. households act in their own best interests
  d. households want to earn as much income as possible
  e. all households would make the same decisions given the same information on products qualities and prices

Question 2

Mark and Charles are roommates at college. Each has written a 25-page term paper for the same English class. They are equally poor typists. Charles types his own paper and gets paid by Mark to type his, too. On the basis of the information given, which one of the following must be true?
 a. Mark is wealthier than Charles.
  b. Mark needs more time to study than Charles.
  c. Charles hates typing.
  d. Mark and Charles have different utilities for typing but place the same value on time.
  e. Mark's opportunity cost of typing is higher than Charles's.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

josephsuarez

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

E


go.lag

  • Hero Member
  • *****
  • Posts: 667
Reply #2 on: Jul 1, 2018
Correct answers!


josephsuarez

  • Sr. Member
  • ****
  • Posts: 323
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Cyanide works by making the human body unable to use oxygen.

Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and
Tips for making phone consultations Tips for making phone consultations
Small nuclear RNAs (snRNA), 100-200 bp in length, form part of the splicing mechanisms to process mR Small nuclear RNAs (snRNA), 100-200 bp in length, form part of the splicing mechanisms to process mR
A Simple Model of the Learning Process A Simple Model of the Learning Process
The lower respiratory tract and the process of gas exchange. The lower respiratory tract and the process of gas exchange.
Normal tympanic membrane with cone of light and process of malleus Normal tympanic membrane with cone of light and process of malleus
Video: B cells and antibodies

For a complete list of videos, visit our video library