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 74 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
Gracias!

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Frequency distribution curve: interpatient variability in drug response Frequency distribution curve: interpatient variability in drug response
Landbridge connections between continental Asia and Indonesia during glacial periods extend as far a Landbridge connections between continental Asia and Indonesia during glacial periods extend as far a
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
Ebbinghaus’s forgetting curve Ebbinghaus’s forgetting curve
Using alert labels enables the medical staff to quickly identify important information such as ... Using alert labels enables the medical staff to quickly identify important information such as ...
Titration curve for the tetrapeptide Glu-Gly-Ala-Lys Titration curve for the tetrapeptide Glu-Gly-Ala-Lys
Video: EpiPen Animation (Part 1)

For a complete list of videos, visit our video library