This topic contains a solution. Click here to go to the answer

Author Question: Clifford lives by the motto Eat, drink and be merry today, for tomorrow doesn't matter. If today's ... (Read 124 times)

Yolanda

  • Hero Member
  • *****
  • Posts: 757
Clifford lives by the motto Eat, drink and be merry today, for tomorrow doesn't matter. If today's consumption is measured on the horizontal axis and tomorrow's consumption is measured on the vertical axis, Clifford's indifference curves
 
  A) are horizontal straight lines.
  B) are vertical straight lines.
  C) show decreasing utility as one moves upward.
  D) cannot be determined from the information given.

Question 2

Assuming that good x is measured on the x-axis and good y is measured on the y-axis, if the utility for the two goods x and y can be measured as U = y, then it can be concluded that
 
  A) x and y are perfect complements.
  B) x is a bad.
  C) the indifference curves on the x,y graph are upward sloping.
  D) the indifference curves on the x,y graph are horizontal.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lolol

  • Sr. Member
  • ****
  • Posts: 330
Answer to Question 1

B

Answer to Question 2

D




Yolanda

  • Member
  • Posts: 757
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)


at

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

For a complete list of videos, visit our video library