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 104 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
Gracias!

Jsherida

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

From space earth shows itself as a planet covered mostly by water. From space earth shows itself as a planet covered mostly by water.
Lewis Hine’s 1910 photograph shows a tenement alley in New York City. More famous for his “unsettlin Lewis Hine’s 1910 photograph shows a tenement alley in New York City. More famous for his “unsettlin
Sarah Sze, Triple Point (Pendulum). Sarah Sze, Triple Point (Pendulum).
Apply draining stroke to forearm. Hold forearm off of the table with one hand. With the other hand, ... Apply draining stroke to forearm. Hold forearm off of the table with one hand. With the other hand, ...
The Farm-to-Table Continuum The Farm-to-Table Continuum
You deposit $2000 each year into an account earning 4% interest compounded annually. How much ... You deposit $2000 each year into an account earning 4% interest compounded annually. How much ...
Video: Chemical Buffers - protein buffer, phosphate buffer system and bicarbonate buffer system

For a complete list of videos, visit our video library