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 91 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
Wow, this really help

EAN94

  • Member
  • Posts: 307
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

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?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

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.

The Light Curve of a Nova The Light Curve of a Nova
Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ... Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ...
Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug. Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug.
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
A 600-kg car is going around a curve with a radius of 120 m that is banked at an angle of 20° ... A 600-kg car is going around a curve with a radius of 120 m that is banked at an angle of 20° ...
Effects of acidosis and alkalosis on the oxyhemoglobin dissociation curve Effects of acidosis and alkalosis on the oxyhemoglobin dissociation curve
Video: Structures that affect circulation - kidneys, blood volume and venous tone

For a complete list of videos, visit our video library