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

Author Question: In a budget line/indifference curve figure, how do you identify the best affordable combination of ... (Read 51 times)

kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
In a budget line/indifference curve figure, how do you identify the best affordable combination of any two goods?
 
  What will be an ideal response?

Question 2

The above figure shows the marginal benefits and marginal costs of a college education. The efficient number of students is
 
  A) 0.
  B) 10 million.
  C) 15 million.
  D) 25 million.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mrphibs

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jun 29, 2018
Answer to Question 1

Any combination of goods along the budget line is affordable. The best of these combinations is on the highest indifference curve. This best combination is where the indifference curve is tangent to the budget line, so this combination is the best affordable combination.

Answer to Question 2

C


kellyjaisingh

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
Excellent

xthemafja

  • Member
  • Posts: 348
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Scaling the Earth down to the size of a basketball, the Moon is roughly the size of a tennis ball. T Scaling the Earth down to the size of a basketball, the Moon is roughly the size of a tennis ball. T
A combination wrench has an open end at one end and a box end at the other end. A combination wrench has an open end at one end and a box end at the other end.
Inline fuel filters are usually attached to the fuel line with screw clamps or threaded ... Inline fuel filters are usually attached to the fuel line with screw clamps or threaded ...
Figure-8s at the knuckles of the hand. Figure-8s at the knuckles of the hand.
Figure and Ground Figure and Ground
How much voltage does the resistor drop in Figure 10-2? a. 59 mV b. 19.94 V c. 20 V d. 10 V How much voltage does the resistor drop in Figure 10-2? a. 59 mV b. 19.94 V c. 20 V d. 10 V
Video: Glycolysis - Introduction to ATP and the burning of sugar

For a complete list of videos, visit our video library