Author Question: If an individual's utility function is quasi-concave, his or her MRS will: a. diminish as x is ... (Read 78 times)

saraeharris

  • Hero Member
  • *****
  • Posts: 546
If an individual's utility function is quasi-concave, his or her MRS will:
 a. diminish as x is substituted for y.
  b. increase as x is substituted for y.
  c. be undefined except in special cases.
  d. always depend only on the ratio of x to y.

Question 2

Buyers anticipate that the temporary warehouse seller of unbranded computer equipment will
 a. deliver high quality products consistent with expectations
  b. not attempt to establish any warranty enforcement mechanisms
  c. offer several prices and qualities
  d. produce only one quality
  e. none of the above



Ksanderson1296

  • Sr. Member
  • ****
  • Posts: 339
Answer to Question 1

a

Answer to Question 2

d



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

For a complete list of videos, visit our video library