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Author Question: The World Bank uses two thresholds for assessing global poverty: either 1 or 2 per day, based on ... (Read 109 times)

lak

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on: Jul 1, 2018
The World Bank uses two thresholds for assessing global poverty: either 1 or 2 per day, based on 1985 prices.
 
  Indicate whether the statement is true or false

Question 2

Suppose you solve a utility maximization problem, and the solution value of the Lagrange multiplier equals zero. What does this outcome imply about the problem solution?
 
  A) You must have made an error while solving the problem.
  B) The budget constraint is not binding, and the constrained solution is equal to the solution to the unconstrained utility maximization problem.
  C) The optimal utility level for the consumer equals zero.
  D) The consumer's demand curve is upward sloping.


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TDubDCFL

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Reply #1 on: Jul 1, 2018
Answer to Question 1

T

Answer to Question 2

B


lak

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

jamesnevil303

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Reply 3 on: Yesterday
:D TYSM

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