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

Author Question: Mary likes to consume either pizza or spaghetti. She has $48 to spend on these meals. a. One week ... (Read 92 times)

nummyann

  • Hero Member
  • *****
  • Posts: 576
on: May 24, 2019
Mary likes to consume either pizza or spaghetti. She has $48 to spend on these meals.
a.  One week the price of pizza is $8 and the price of spaghetti is $6. Mary uses the indifference curve analysis she learned in microeconomics to decide how much of each type of meal to buy. She puts pizza on the vertical axis and spaghetti on the horizontal axis. What is the marginal rate of substitution at the combination of pizza and spaghetti that Mary chooses?
b.  The next week, the price of pizza is $6 and the price of spaghetti is $8 so Mary adjusts her consumption combination to maximize her total utility. What is her marginal rate of substitution now?
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by nummyann on May 24, 2019

Joc

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: May 24, 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 64% of students answer this correctly


nummyann

  • Hero Member
  • *****
  • Posts: 576
Reply #2 on: May 24, 2019
Excellent


Joc

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Holy Week in Spain Holy Week in Spain
The microchip is transforming our lives—the way we shop, spend our leisure, relate to one another, ... The microchip is transforming our lives—the way we shop, spend our leisure, relate to one another, ...
Should School Meals Align with the Dietary Guidelines for Americans? Should School Meals Align with the Dietary Guidelines for Americans?
Embryonic Period - End of the 4th week Embryonic Period - End of the 4th week
The minimum number of moles of oxygen needed to completely consume 4 moles of C3H8O is ... The minimum number of moles of oxygen needed to completely consume 4 moles of C3H8O is ...
Pizza Slices Pizza Slices
Video: Role of the respiratory system - effect of altered ventilation rates

For a complete list of videos, visit our video library