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

Author Question: If a restaurant runs a special and sells a lobster dinner for $4.50, Amy buys one lobster dinner a ... (Read 86 times)

bclement10

  • Hero Member
  • *****
  • Posts: 560
on: Apr 19, 2019

Question 1

A household will buy a good as long as the


◦ good's price is greater than the maximum a consumer would be willing to pay for it.
◦ marginal utility from its consumption is greater than or equal to its market price.
◦ good still provides the consumer with average utility.
◦ good's use value is less than the price being charged for the good.

Question 2

If a restaurant runs a special and sells a lobster dinner for $4.50, Amy buys one lobster dinner a week. If lobster dinners are not on special and the price is $16.00, Amy buys zero lobster dinners per week. Which of the following is 
true?


◦ Amy's demand for lobster is inelastic.
◦ Amy's marginal utility from a lobster dinner is less than $4.50.
◦ The value of Amy's marginal utility from a lobster dinner is at least $4.50 and less than $16.00.
◦ Amy's marginal utility from a lobster dinner is greater than $16.00.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by bclement10 on Apr 19, 2019

zhanghao

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Apr 19, 2019
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 56% of students answer this correctly


bclement10

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Apr 19, 2019
Thanks


zhanghao

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Apr 19, 2019
Welcome :)


« previous next »
 

Did you know?

Your heart beats over 36 million times a year.

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?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Lobster in a bucket looks like a gigantic monster on a metallic planet, and... Lobster in a bucket looks like a gigantic monster on a metallic planet, and...
When the White House tapes were turned over to the special prosecutor, several crucial sections had ... When the White House tapes were turned over to the special prosecutor, several crucial sections had ...
By age 3, children develop scripts for common events such as eating at a restaurant. By age 3, children develop scripts for common events such as eating at a restaurant.
How to evaluate angles using cosecant, special triangles, and the unit circle (Part 3) How to evaluate angles using cosecant, special triangles, and the unit circle (Part 3)
Top your dinner pasta with broccoli for a selenium-smart meal Top your dinner pasta with broccoli for a selenium-smart meal
A bus starts from restat a station and accelerates at a rate of 2 m/s^2 for 15 seconds. It then runs A bus starts from restat a station and accelerates at a rate of 2 m/s^2 for 15 seconds. It then runs
Video: Cognitive development by Piaget (Preoperational stage or intelligence)

For a complete list of videos, visit our video library