« previous next »

Author Question: If two goods, x and y, are perfect substitutes, then which of the following best represents the ... (Read 57 times)

cartlidgeashley

  • Hero Member
  • *****
  • Posts: 572
on: Jul 1, 2018
If two goods, x and y, are perfect substitutes, then which of the following best represents the utility function for the two goods?
 
  A) U = x + y
  B) U = x  y
  C) U = x2 + y2
  D) Any of the above.

Question 2

A collective consumption good may be inefficiently produced by the private sector because _____.
 
  a. it is inefficient to raise price above marginal cost
  b. of free riding problems
  c. fixed costs are too high
   d. private producers are greedy


sylvia

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Worldly Goods Worldly Goods
PIC PERFECT PIC PERFECT
Richard Rodriguez represents millions of immigrants—not just those of Latino origin but those from ... Richard Rodriguez represents millions of immigrants—not just those of Latino origin but those from ...
Shippers Declaration for Dangerous Goods Shippers Declaration for Dangerous Goods
Foods made with fat substitutes aren’t calorie free Foods made with fat substitutes aren’t calorie free
Which reaction below represents Th decay by alpha emission? Which reaction below represents Th decay by alpha emission?
Video: Neuron structure and function - sensory neurons, association neurons & motor neurons

For a complete list of videos, visit our video library