« previous next »

Author Question: Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference ... (Read 172 times)

saraeharris

  • Hero Member
  • *****
  • Posts: 546
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 Keith's utility maximization choice?
◦ only 2 fresh soups
◦ only 4 canned soups
◦ 4 canned soups and 2 fresh soups
◦ 4 canned soups and 4 fresh soups
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


cloudre37

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 18, 2019
only 4 canned soups


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

rosent76

  • Hero Member
  • *****
  • Posts: 516
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. Canned soup sells for $1 per serving and fresh soup sells for $2 per serving. What is Keith's income?
◦ $5
◦ $8
◦ $2
◦ $4


TheDev123

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 18, 2019
$4


rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #4 on: Jun 18, 2019
Excellent


TheDev123

  • Sr. Member
  • ****
  • Posts: 332
Reply #5 on: Jun 18, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the
Structure of the ovary and uterine (fallopian) tube. Figure illustrates stages of ovum development a Structure of the ovary and uterine (fallopian) tube. Figure illustrates stages of ovum development a
Paul Colin, Figure of a Woman. Paul Colin, Figure of a Woman.
Statuette of a Male Figure Statuette of a Male Figure
Soup’s On! Nutrient claims on the food label must meet strict FDA criteria Soup’s On! Nutrient claims on the food label must meet strict FDA criteria
Figure and Ground Figure and Ground
Video: Dissociative Disorders (Part 2)

For a complete list of videos, visit our video library