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

Author Question: Explain the concept of consumer equilibrium. What will be an ideal ... (Read 74 times)

s.tung

  • Hero Member
  • *****
  • Posts: 577
on: Jun 29, 2018
Explain the concept of consumer equilibrium.
 
  What will be an ideal response?

Question 2

Consider the budget line in the above figure. If the price of a magazine is 4, then the price of a hamburger is
 
  A) 1.75.
  B) 3.00.
  C) 4.00.
  D) 5.33.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kaytorgator

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 29, 2018
Answer to Question 1

A consumer equilibrium is a situation in which a consumer has allocated all his or her available income in the way that, given the prices of goods and services, the combination of goods and services maximizes the consumer's total utility.

Answer to Question 2

B


s.tung

  • Hero Member
  • *****
  • Posts: 577
Reply #2 on: Jun 29, 2018
Thank you


Kaytorgator

  • Sr. Member
  • ****
  • Posts: 345
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

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?

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.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Lyme Disease Concept Map Lyme Disease Concept Map
Concept map Concept map
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
A pharmacist can explain to a patient why medication may look different and ensure the correct ... A pharmacist can explain to a patient why medication may look different and ensure the correct ...
Mole concept Mole concept
Write the acidic equilibrium equation for HC₆H₅O. Write the acidic equilibrium equation for HC₆H₅O.
Video: Cellular defenses (natural killer cells, phagocyte types & process of phagocytosis)

For a complete list of videos, visit our video library