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

Author Question: In the above figure, as Brendan's income rises his consumption bundle moves from point A to point C. ... (Read 135 times)

kshipps

  • Hero Member
  • *****
  • Posts: 571
on: Jun 29, 2018
In the above figure, as Brendan's income rises his consumption bundle moves from point A to point C. This implies that for Brendan, compact discs are ________ good and haircuts are ________ good.
 
  A) a normal; an inferior
  B) a normal; a normal
  C) an inferior; an inferior
  D) an inferior; a normal

Question 2

Amy has the total utility values given above for DVD rentals a week. Complete the table by calculating her marginal utilities.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ciecieme

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Quantity
(rentals per week) Total utility Marginal utility
0 0 X
1 28 28
2 54 26
3 78 24
4 100 22
5 120 20
6 138 18
7 154 16

The completed table is above.


kshipps

  • Hero Member
  • *****
  • Posts: 571
Reply #2 on: Jun 29, 2018
Thank you :)


ciecieme

  • Sr. Member
  • ****
  • Posts: 331
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Nancy Rubins, Pleasure Point. Nancy Rubins, Pleasure Point.
Sociologists use income, education, and occupational prestige to measure social class. For most ... Sociologists use income, education, and occupational prestige to measure social class. For most ...
Common trigger point locations, anterior and posterior. Common trigger point locations, anterior and posterior.
Solow Model with Saving Dependent on Income Level Solow Model with Saving Dependent on Income Level
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
The molality of a C12H23O11 solution is 0.6 m. what is the freezing point of the solution C? The molality of a C12H23O11 solution is 0.6 m. what is the freezing point of the solution C?
Video: Antidiuretic hormone (vasoconstriction, water reabsorption & sweat inhibition)

For a complete list of videos, visit our video library