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 83 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?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

For a complete list of videos, visit our video library