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 108 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

AmberC1996

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

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?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Nuclear division at the DNA level Nuclear division at the DNA level
Substrate–level phosphorylation. Substrate–level phosphorylation.
Energy Level Diagram of Hydrogen Energy Level Diagram of Hydrogen
That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by
A weather map depicting the sea-level pressure distribution for March 4, 1994. A weather map depicting the sea-level pressure distribution for March 4, 1994.
Rising sea level threatens coastal communities around the world Rising sea level threatens coastal communities around the world
Video: Contraction and Relaxation Animation

For a complete list of videos, visit our video library