This topic contains a solution. Click here to go to the answer

Author Question: Assume you are consuming two goods, X and Y. X and Y are both normal goods but they are not close ... (Read 57 times)

warrenjean01

  • Full Member
  • ***
  • Posts: 158

Question 1




FIGURE 6-1

Refer to Figure 6-1. The marginal utility of the second unit of the good consumed is


◦ 10.
◦ 20.
◦ 30.
◦ 40.
◦ 50.

Question 2

Assume you are consuming two goods, X and Y. X and Y are both normal goods but they are not close complements. The price of good X increases but the price of Y remains unchanged. However, you are given enough additional income to ensure that your utility remains unchanged. What happens to your consumption of good X?
◦ It decreases.
◦ It stays the same.
◦ It increases or decreases.
◦ It increases.
◦ It increases over the long run.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by warrenjean01 on Oct 12, 2022

gwisel

  • Full Member
  • ***
  • Posts: 154
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 25% of students answer this correctly




warrenjean01

  • Member
  • Posts: 158
Reply 2 on: Oct 12, 2022
Wow, this really help


duy1981999

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Excellent

 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

For a complete list of videos, visit our video library