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

Author Question: Consumer equilibrium is reached when: a. an individual spends her entire income. b. there is no way ... (Read 40 times)

joesmith1212

  • Hero Member
  • *****
  • Posts: 549
on: Jun 30, 2018
Consumer equilibrium is reached when:
 a. an individual spends her entire income.
 b. there is no way a consumer, given the available income, could increase her satisfaction.
  c. marginal utility begins to diminish.
 d. marginal utility is maximized, subject to the available income.

Question 2

The marginal factor cost (MFC) is the:
 a. value of the additional output that an extra unit of a resource can produce.
  b. additional cost of employing an additional unit of a resource.
  c. additional cost of producing an additional unit of output.
  d. the ratio of the total fixed cost to the total cost of production.
  e. ratio of total cost to the total amount of resources employed.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

whitcassie

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


joesmith1212

  • Member
  • Posts: 549
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Standing at the head of the table, apply oil or lotion to the entire back with bilateral stroking. ... Standing at the head of the table, apply oil or lotion to the entire back with bilateral stroking. ...
Kinesthesis and Equilibrium with skating Kinesthesis and Equilibrium with skating
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
The karyotype of a triploid individual contains three copies of each chromosome. The karyotype of a triploid individual contains three copies of each chromosome.
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library