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

Author Question: Suppose that there are five bottles of lemonade, each of which gives a consumer the same level of ... (Read 165 times)

haleyc112

  • Hero Member
  • *****
  • Posts: 600
on: Jun 30, 2018
Suppose that there are five bottles of lemonade, each of which gives a consumer the same level of utility. According to the law of diminishing marginal utility, how can the consumer receive the highest utility?
 a. Consume all five bottles in the next hour
  b. Consume all five bottles today
  c. Consume all five bottles in one day next week
  d. Consume two bottles today and three tomorrow
  e. Consume one bottle each day for the next five days

Question 2

The vertical distance between the average total cost curve and the average variable cost curve equals:
 a. marginal cost.
 b. average fixed cost.
  c. total fixed cost.
 d. total variable cost.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fraziera112

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

b


haleyc112

  • Member
  • Posts: 600
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

cassie_ragen

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

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.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Shy children often have a high arousal level in novel social situations. Over time, parents can help ... Shy children often have a high arousal level in novel social situations. Over time, parents can help ...
Level II HCPCs Codes Level II HCPCs Codes
The developed countries must reduce the level of greenhouse gas emissions The developed countries must reduce the level of greenhouse gas emissions
The level of emissions from transport in the United States is twice as high as the global average The level of emissions from transport in the United States is twice as high as the global average
Solow Model with Saving Dependent on Income Level Solow Model with Saving Dependent on Income Level
A Drug’s Plateau Level A Drug’s Plateau Level
Video: Chronology of leptin research (A history of leptin research)

For a complete list of videos, visit our video library