« previous next »

Author Question: What is the utility-maximizing rule? What will be an ideal ... (Read 76 times)

craiczarry

  • Hero Member
  • *****
  • Posts: 527
on: Jun 29, 2018
What is the utility-maximizing rule?
 
  What will be an ideal response?

Question 2

If the elasticity of supply of labor is low and the elasticity of demand for labor is high, then workers pay most of the Social Security tax levied on labor.
 
  Indicate whether the statement is true or false


LVPMS

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

The utility-maximizing rule states that for a person to maximize utility, the person must allocate (spend) his or her entire budget and consume the quantities of goods and services so that the marginal utility per dollar from each good or service is equal to the marginal utility per dollar from all the other goods and services.

Answer to Question 2

TRUE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Rule of Nine for burns. Rule of Nine for burns.
How to find the derivatives of trigonometric functions using the chain rule (Part 1) How to find the derivatives of trigonometric functions using the chain rule (Part 1)
Find the derivative by using the chain rule, question 2 Find the derivative by using the chain rule, question 2
Use the power rule to find derivative Use the power rule to find derivative
Differentiate each function with respect to x. (Power rule) Differentiate each function with respect to x. (Power rule)
To find the derivative use product rule To find the derivative use product rule
Video: Factors that affect conduction rates (myelination, axon diameter & temperature)

For a complete list of videos, visit our video library