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

Author Question: The law of diminishing marginal utility explains why an individual's demand curve is elastic. a. ... (Read 71 times)

mpobi80

  • Hero Member
  • *****
  • Posts: 519
on: Jul 1, 2018
The law of diminishing marginal utility explains why an individual's demand curve is elastic.
 a. True
  b. False

Question 2

Tyrell has 50 per week to spend on good A, which has a price of 5, and good B, which has a price of 4 . He buys six units of A and five of B. The marginal utility of the sixth unit of A is 25, and the marginal utility of the fifth unit of B is 20 . Which of the following is true?
 a. He is maximizing his utility.
  b. We cannot tell if he is maximizing his utility unless we know his total utility.
  c. He is not maximizing his utility and should buy more of A.
  d. He is not maximizing his utility and should buy more of B.
  e. He is not maximizing his utility because he is not spending all of his income.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Meganchabluk

  • Sr. Member
  • ****
  • Posts: 301
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


mpobi80

  • Member
  • Posts: 519
Reply 2 on: Jul 1, 2018
Wow, this really help

Jsherida

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Acromegaly in one individual from a pair of identical twins. Acromegaly in one individual from a pair of identical twins.
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Streptococci: Individual bacteria that have a rounded shape and have clumped together to form a ... Streptococci: Individual bacteria that have a rounded shape and have clumped together to form a ...
A typical ECT sensor temperature versus voltage curve. A typical ECT sensor temperature versus voltage curve.
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
Video: Glycolysis Animation

For a complete list of videos, visit our video library