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

Author Question: When a consumer maximizes utility subject to a limited income, she allocates income across goods to ... (Read 75 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
When a consumer maximizes utility subject to a limited income, she allocates income across goods to the point that:
 a. the marginal price is the same for all goods.
 b. marginal utility is zero.
 c. marginal utility is negative.
 d. the marginal utility per dollar spent is the same for all goods.

Question 2

Intel microchips are an input in the production of a computer. When the demand for the computer declines:
 a. the quantity demanded of Intel microchips increases.
  b. the quantity demanded of Intel microchips declines.
  c. the demand for Intel microchips increases.
  d. the demand for Intel microchips decreases.
  e. there is no change in the demand for the Intel microchips.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

essyface1

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
Reply #2 on: Jun 30, 2018
Correct answers!


essyface1

  • Sr. Member
  • ****
  • Posts: 347
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Sources of income for U.S. population aged 65 and over. Sources of income for U.S. population aged 65 and over.
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
How an Increase in Income Inequality Affects the Desired Tax Rate How an Increase in Income Inequality Affects the Desired Tax Rate
How Health Interacts with Income How Health Interacts with Income
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
Video: Darwin's Observation (Fossils, Galapagos Islands & Africa ) and Natural Selection (Adaptive Traits)

For a complete list of videos, visit our video library