« previous next »

Author Question: Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference ... (Read 146 times)

MGLQZ

  • Hero Member
  • *****
  • Posts: 579
on: Jun 18, 2019



Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. Which of the following choices Keith cannot afford?
◦ only 4 canned soups
◦ 2 canned soups and 1 fresh soup
◦ 3 canned soups and 2 fresh soups
◦ only 2 fresh soups
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


stallen

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 18, 2019
3 canned soups and 2 fresh soups


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

vicky

  • Hero Member
  • *****
  • Posts: 586
Reply #2 on: Jun 18, 2019



Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. What is the marginal rate of transformation (MRT) of Keith's budget constraint?
◦ MRT = -1
◦ MRT = -4
◦ MRT = -0.5
◦ MRT = -2


bitingbit

  • Sr. Member
  • ****
  • Posts: 323
Reply #3 on: Jun 18, 2019
MRT = -2


vicky

  • Hero Member
  • *****
  • Posts: 586
Reply #4 on: Jun 18, 2019
Thank you!


bitingbit

  • Sr. Member
  • ****
  • Posts: 323
Reply #5 on: Jun 18, 2019
Always glad to help...


« previous next »
 

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Hydrocephalus. The figure on the left is a child with the enlarged ventricles of hydrocephalus. The Hydrocephalus. The figure on the left is a child with the enlarged ventricles of hydrocephalus. The
front muscle figure front muscle figure
Figure-8s on the toes mobilize joints of the foot. Figure-8s on the toes mobilize joints of the foot.
Re-creation of Pheidias’s Huge Gold and Ivory Figure of Athena Re-creation of Pheidias’s Huge Gold and Ivory Figure of Athena
Figure and Ground Figure and Ground
Cut the figure into two identical parts Cut the figure into two identical parts
Video: How does an animal choose what food to eat?

For a complete list of videos, visit our video library