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

Author Question: What will an indifference curve look like between two commodities that are perfect complements, such ... (Read 68 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
on: Jun 29, 2018
What will an indifference curve look like between two commodities that are perfect complements, such as right shoes and left shoes?
 
  What will be an ideal response?

Question 2

What is the difference between average total cost and marginal cost and are they ever equal to each other?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahm14

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 29, 2018
Answer to Question 1

The indifference curve will be L-shaped. This shape indicates that more of either product, without any more of the other, would not make the consumer better off.

Answer to Question 2

Average total cost is total cost divided by output. Marginal cost is the change in total cost divided by the change in output. Marginal cost equals average total cost when the average total cost is at its minimum.


bcretired

  • Member
  • Posts: 525
Reply 2 on: Jun 29, 2018
Gracias!

amit

  • Member
  • Posts: 364
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

The age-dependent curve of salivary progresterone levels in three populations. The age-dependent curve of salivary progresterone levels in three populations.
Bell Curve for Intelligence IQ scores for a population-based sample usually fall into this kind of Bell Curve for Intelligence IQ scores for a population-based sample usually fall into this kind of
How to create a sine equation when the curve is given How to create a sine equation when the curve is given
The Kuznets Curve in England and Wales, 1823–1915 The Kuznets Curve in England and Wales, 1823–1915
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus). Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus).
Video: Introduction to Insulin

For a complete list of videos, visit our video library