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

Author Question: Sarah spends 100 a year on magazines and ice cream. The table above shows her utility from each ... (Read 113 times)

ts19998

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Sarah spends 100 a year on magazines and ice cream. The table above shows her utility from each good. If the price of a magazine is 5 and the price of ice cream is 5 per gallon, how does Sarah spend the 100?
 
  What will be an ideal response?

Question 2

Higher ethanol production definitely and directly raises the price of corn, said USDA economist Ephraim Leibtag. In the short run in the corn market, what is TRUE if the production of ethanol increases?
 
  A) The demand curve for individual corn farmers will shift upward.
  B) The price individual corn farmers receive will decrease.
  C) The total cost curve for individual corn farmers will shift upward.
  D) The marginal cost curve for individual corn farmers will shift downward.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

AmberC1996

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

Sarah buys 6 magazines and 14 gallons of ice cream. She spends 100 and her marginal utility per dollar from magazines and ice cream is the same, 3.6 units per dollar.

Answer to Question 2

A


ts19998

  • Member
  • Posts: 531
Reply 2 on: Jun 29, 2018
:D TYSM

Liddy

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

The end of a typical line wrench, which shows that it is capable of grasping most of the head of ... The end of a typical line wrench, which shows that it is capable of grasping most of the head of ...
ANOVA Table ANOVA Table
A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ... A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ...
table table
8.The following table contains DNA-sequence information compiled by Marilyn Kozak (1987). The ... 8.The following table contains DNA-sequence information compiled by Marilyn Kozak (1987). The ...
Ice cream? Ice cream?
Video: Five phases of cardiac cycle & Atrial contraction

For a complete list of videos, visit our video library