« previous next »

Author Question: Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference ... (Read 184 times)

saraeharris

  • Hero Member
  • *****
  • Posts: 546
on: Jun 18, 2019



Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. What is Keith's utility maximization choice?
◦ only 2 fresh soups
◦ only 4 canned soups
◦ 4 canned soups and 2 fresh soups
◦ 4 canned soups and 4 fresh soups
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


cloudre37

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 18, 2019
only 4 canned soups


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #2 on: Jun 18, 2019



Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. Canned soup sells for $1 per serving and fresh soup sells for $2 per serving. What is Keith's income?
◦ $5
◦ $8
◦ $2
◦ $4


TheDev123

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 18, 2019
$4


rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #4 on: Jun 18, 2019
Excellent


TheDev123

  • Sr. Member
  • ****
  • Posts: 332
Reply #5 on: Jun 18, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and
Fruit bat soup Fruit bat soup
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Mobilize joints of the feet and ankle. Apply scissoring to metatarsals and figure-8s to toes. Dorsi- ... Mobilize joints of the feet and ankle. Apply scissoring to metatarsals and figure-8s to toes. Dorsi- ...
Available Fresh Water per year Available Fresh Water per year
Video: Introduction to Tuberculosis

For a complete list of videos, visit our video library