« previous next »

Author Question: Joe consumes pizza and movies. Pizza and movies are substitutes. According to marginal utility ... (Read 71 times)

WWatsford

  • Hero Member
  • *****
  • Posts: 539
    • Biology Forums!
on: Jun 29, 2018
Joe consumes pizza and movies. Pizza and movies are substitutes. According to marginal utility theory, if the price of a pizza rises then
 
  A) the demand curve for pizza shifts leftward.
  B) the demand curve for pizza shifts leftward and the demand curve for movies shifts rightward.
  C) there is an upward movement along the demand curve for pizza.
  D) there is an upward movement along the demand curve for pizza and the demand curve for movies shifts rightward.

Question 2

The figure above shows a perfectly competitive firm. The figure shows a firm
 
  A) in the short run.
  B) in the long run.
  C) at its shutdown point.
  D) Both answers A and C are correct.


Bsand8

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
(a) Zombies are a common theme in movies. However, (b) the number of zombie movies released each yea (a) Zombies are a common theme in movies. However, (b) the number of zombie movies released each yea
A variety of sugar substitutes is available to the consumer A variety of sugar substitutes is available to the consumer
Foods made with fat substitutes aren’t calorie free Foods made with fat substitutes aren’t calorie free
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Pizza and eating disorders can be life threatening Pizza and eating disorders can be life threatening
Video: Hormonal regulation of pregnancy - week 1

For a complete list of videos, visit our video library