« previous next »

Author Question: Jason buys only music downloads and food with his weekly income. In response to a decrease in the ... (Read 9 times)

tsand2

  • Hero Member
  • *****
  • Posts: 520
on: Jun 30, 2018
Jason buys only music downloads and food with his weekly income. In response to a decrease in the price of downloads, he buys more downloads and less food. As a result, we would expect:
 a. the marginal utility of downloads to increase and the marginal utility of food to decrease.
  b. the marginal utility of both downloads and food to remain unchanged.
 c. the marginal utility of downloads to decrease and the marginal utility of food to increase.
  d. the marginal utility of food to become negative.

Question 2

If the resource market is perfectly competitive:
 a. the market demand for the resource is perfectly elastic.
  b. the market demand for the resource is perfectly inelastic.
  c. the suppliers can affect the input price by increasing or reducing their supply.
  d. the input price to each firm is constant.
  e. the supply of the resource is perfectly inelastic.


djofnc

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Pharmacogenomics, Genetic makeup, Drug development, Individual response to drugs, Prescriptions Pharmacogenomics, Genetic makeup, Drug development, Individual response to drugs, Prescriptions
Neuropeptides and Peripheral Peptides Involved in Control of Food Intake and Metabolism Neuropeptides and Peripheral Peptides Involved in Control of Food Intake and Metabolism
Food policy can drive the food industry Food policy can drive the food industry
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Lakou Mizik & Joseph Ray - Ogou (Pran Ka Mwen) [Official Music Video] Lakou Mizik & Joseph Ray - Ogou (Pran Ka Mwen) [Official Music Video]
Tallgrass Prairie: Food Chain and Trophic Levels Tallgrass Prairie: Food Chain and Trophic Levels
Video: Spermatogenesis Animation

For a complete list of videos, visit our video library