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

Author Question: The demand for corn increases. As a result, the price of corn will ________, and the less elastic ... (Read 266 times)

meagbuch

  • Hero Member
  • *****
  • Posts: 568
on: Jun 29, 2018
The demand for corn increases. As a result, the price of corn will ________, and the less elastic the supply of corn, the ________ will be the effect on the price.
 
  A) fall; smaller
  B) fall; greater
  C) rise; smaller
  D) rise; greater

Question 2

Sonya's budget for magazines and chocolate bars is 50. Her marginal utility from these goods is shown in the table above. If the price of a magazine is 5 and the price of a chocolate bar is 2.
 
  50, which of the following combinations maximizes Sonya's utility? A) 1 magazine and 18 chocolate bars
  B) 2 magazines and 20 chocolate bars
  C) 3 magazines and 14 chocolate bars
  D) 5 magazines and 10 chocolate bars


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

quynhmickitran

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


meagbuch

  • Member
  • Posts: 568
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

tranoy

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

SDS PAGE Result SDS PAGE Result
Adding additional amounts of ethyl alcohol (ethanol) increases the frequency reading. Adding additional amounts of ethyl alcohol (ethanol) increases the frequency reading.
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Mechanisms of capillary exchange (transcytosis & bulk flow)

For a complete list of videos, visit our video library