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

Author Question: If a restaurant runs a special and sells a lobster dinner for $4.50, Amy buys one lobster dinner a ... (Read 132 times)

bclement10

  • Hero Member
  • *****
  • Posts: 560
on: Apr 19, 2019

Question 1

A household will buy a good as long as the


◦ good's price is greater than the maximum a consumer would be willing to pay for it.
◦ marginal utility from its consumption is greater than or equal to its market price.
◦ good still provides the consumer with average utility.
◦ good's use value is less than the price being charged for the good.

Question 2

If a restaurant runs a special and sells a lobster dinner for $4.50, Amy buys one lobster dinner a week. If lobster dinners are not on special and the price is $16.00, Amy buys zero lobster dinners per week. Which of the following is 
true?


◦ Amy's demand for lobster is inelastic.
◦ Amy's marginal utility from a lobster dinner is less than $4.50.
◦ The value of Amy's marginal utility from a lobster dinner is at least $4.50 and less than $16.00.
◦ Amy's marginal utility from a lobster dinner is greater than $16.00.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by bclement10 on Apr 19, 2019

zhanghao

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


bclement10

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Apr 19, 2019
Thanks


zhanghao

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Apr 19, 2019
Welcome :)


« previous next »
 

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Stuffed Jackalope in restaurant near Death Valley Stuffed Jackalope in restaurant near Death Valley
Anna Vallayer-Coster, Still Life with Lobster. Anna Vallayer-Coster, Still Life with Lobster.
How to solve equations that contain cosine using special triangles (Part 2) How to solve equations that contain cosine using special triangles (Part 2)
Your nose runs like a leaky faucet and turns beet red from constant wiping Your nose runs like a leaky faucet and turns beet red from constant wiping
Growing plants in a container garden can provide healthy, nutritious vegetables for your dinner Growing plants in a container garden can provide healthy, nutritious vegetables for your dinner
Exceptional Children: An Introduction to Special Education Exceptional Children: An Introduction to Special Education
Video: Structures that affect circulation - heart and MABP

For a complete list of videos, visit our video library