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

Author Question: In the above figure, as Brendan's income rises his consumption bundle moves from point A to point C. ... (Read 137 times)

kshipps

  • Hero Member
  • *****
  • Posts: 571
on: Jun 29, 2018
In the above figure, as Brendan's income rises his consumption bundle moves from point A to point C. This implies that for Brendan, compact discs are ________ good and haircuts are ________ good.
 
  A) a normal; an inferior
  B) a normal; a normal
  C) an inferior; an inferior
  D) an inferior; a normal

Question 2

Amy has the total utility values given above for DVD rentals a week. Complete the table by calculating her marginal utilities.
 
  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

ciecieme

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Quantity
(rentals per week) Total utility Marginal utility
0 0 X
1 28 28
2 54 26
3 78 24
4 100 22
5 120 20
6 138 18
7 154 16

The completed table is above.


kshipps

  • Hero Member
  • *****
  • Posts: 571
Reply #2 on: Jun 29, 2018
Thank you :)


ciecieme

  • Sr. Member
  • ****
  • Posts: 331
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

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.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Sociologists use income, education, and occupational prestige to measure social class. For most ... Sociologists use income, education, and occupational prestige to measure social class. For most ...
Graph showing how the boiling point of the coolant increases as the percentage of antifreeze in ... Graph showing how the boiling point of the coolant increases as the percentage of antifreeze in ...
Mobilize the joints in the hand. Follow with figure-8s at the knuckles and scissoring the ... Mobilize the joints in the hand. Follow with figure-8s at the knuckles and scissoring the ...
Colossal Figure of Akhenaten Colossal Figure of Akhenaten
What is the total resistance of the circuit in Figure 1? 150 What is the total resistance of the circuit in Figure 1? 150
Constructing a Three-Point Recombination Map Constructing a Three-Point Recombination Map
Video: Major Elements in Biological Molecules: Carbohydrates

For a complete list of videos, visit our video library