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

Author Question: When isolating the substitution effect of a change in an individual's budget constraint, _____ is ... (Read 245 times)

bb

  • Hero Member
  • *****
  • Posts: 544
on: Jul 1, 2018
When isolating the substitution effect of a change in an individual's budget constraint, _____ is held constant.
 
  a. utility
  b. budget
  c. income
   d. consumption

Question 2

The utility maximizing consumption bundle for an individual can be found by locating _____.
 
  a. the individual's bliss point
  b. any point on an indifference curve touching the budget constraint
  c. the highest point on an individual's indifference curve
   d. the point tangent to an individual's budget constraint


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Heffejeff

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


bb

  • Member
  • Posts: 544
Reply 2 on: Jul 1, 2018
Wow, this really help

vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ
Ogburn's Processes of Social Change Ogburn's Processes of Social Change
Jet streams and Earth’s heat budget Jet streams and Earth’s heat budget
Geoengineering is not a solution to climate change Geoengineering is not a solution to climate change
Effect of a Tax Effect of a Tax
Change in Blood Pressure through the Systemic Circuit Change in Blood Pressure through the Systemic Circuit
Video: The Nerve Impulse

For a complete list of videos, visit our video library