« previous next »

Author Question: If two goods, x and y, are perfect substitutes, then which of the following best represents the ... (Read 85 times)

cartlidgeashley

  • Hero Member
  • *****
  • Posts: 572
on: Jul 1, 2018
If two goods, x and y, are perfect substitutes, then which of the following best represents the utility function for the two goods?
 
  A) U = x + y
  B) U = x  y
  C) U = x2 + y2
  D) Any of the above.

Question 2

A collective consumption good may be inefficiently produced by the private sector because _____.
 
  a. it is inefficient to raise price above marginal cost
  b. of free riding problems
  c. fixed costs are too high
   d. private producers are greedy


sylvia

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da
How to factor a perfect square trinomial How to factor a perfect square trinomial
Shippers Declaration for Dangerous Goods Shippers Declaration for Dangerous Goods
How to determine if a table of values represents a function How to determine if a table of values represents a function
Foods made with fat substitutes aren’t calorie free Foods made with fat substitutes aren’t calorie free
Which reaction below represents Th decay by alpha emission? Which reaction below represents Th decay by alpha emission?
Video: DNA Replication Factory and Protein

For a complete list of videos, visit our video library