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

Author Question: The production possibilities curve of a low income country lies outside the production possibilities ... (Read 82 times)

swpotter12

  • Hero Member
  • *****
  • Posts: 527
The production possibilities curve of a low income country lies outside the production possibilities curve of a high income country.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

An individual consumes only hamburgers and milkshakes. The last hamburger consumed yields 25 utils of satisfaction, while the last milkshake consumed yields 10 utils of satisfaction. If the price of a hamburger is 2.50 and the price of a milkshake is 1.50, we can conclude that:
 a. the consumer should consume more hamburgers and fewer milkshakes.
  b. the consumer should consume more milkshakes and fewer hamburgers.
  c. the consumer has achieved consumer equilibrium.
 d. the consumer should buy only milkshakes.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jayson

  • Sr. Member
  • ****
  • Posts: 350
Answer to Question 1

False

Answer to Question 2

a





 

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

For a complete list of videos, visit our video library