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

Author Question: You may consume ice cream or frozen yogurt, and ice cream consumption is plotted along the ... (Read 90 times)

evelyn o bentley

  • Hero Member
  • *****
  • Posts: 564
on: Jul 1, 2018
You may consume ice cream or frozen yogurt, and ice cream consumption is plotted along the horizontal axis of your indifference map. The prices are denoted PY for frozen yogurt and PIC for ice cream.
 
  Under what condition will you only consume frozen yogurt? A) MRS is greater than PIC/PY
  B) MRS is less than PIC/PY
  C) MRS is less than PY/PIC
  D) MRS is infinite

Question 2

Price ceilings can result in a net loss in consumer surplus when the ________ curve is ________.
 
  A) demand; very elastic
  B) demand; very inelastic
  C) supply; very inelastic
  D) none of the above; price ceilings always increase consumer surplus


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

prumorgan

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


evelyn o bentley

  • Member
  • Posts: 564
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Harriet Beecher Stowe’s novel, Uncle Tom’s Cabin, became a staple of the mid-nineteenth-century thea Harriet Beecher Stowe’s novel, Uncle Tom’s Cabin, became a staple of the mid-nineteenth-century thea
For ice massage, ice is frozen in a cylindrical container or a paper cup (A). The top half of the cu For ice massage, ice is frozen in a cylindrical container or a paper cup (A). The top half of the cu
Diet Soda's Consumption's Association with Increased (not Decreased) Prevalence of ... Diet Soda's Consumption's Association with Increased (not Decreased) Prevalence of ...
Consumption of animal products "استهلاك المنتجات الحيوانية" Consumption of animal products "استهلاك المنتجات الحيوانية"
Food Sources Milk and yogurt Food Sources Milk and yogurt
Cultural Attitudes Toward Insect Consumption Cultural Attitudes Toward Insect Consumption
Video: Uterine (menstrual) cycle - phases

For a complete list of videos, visit our video library