« previous next »

Author Question: Ricardo buys cola and popcorn. Cola sells for 0.50 a can and popcorn sells for 1 per bag. He is in ... (Read 105 times)

Davideckstein7

  • Hero Member
  • *****
  • Posts: 555
on: Jun 29, 2018
Ricardo buys cola and popcorn. Cola sells for 0.50 a can and popcorn sells for 1 per bag. He is in consumer equilibrium. The price of a cola jumps to 1 per can. In his new consumer equilibrium, Ricardo's
 
  A) marginal utility of cola will be equal to his marginal utility of popcorn.
  B) marginal utility per dollar spent will be 2.
  C) total utility will be higher.
  D) marginal utility of cola will decrease.

Question 2

The fact that you may not know who your congressional representative is represents
 
  A) rational ignorance on your part.
  B) the rival nature of information.
  C) inefficient oversupply of public servants.
  D) the use of the median voter theorem.


briezy

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

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

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

A seashell vendor in Tanzania sells to tourists seashells which have been taken from the sea alive, A seashell vendor in Tanzania sells to tourists seashells which have been taken from the sea alive,
Ai Weiwei, Han Dynasty Urn with Coca-Cola Logo. Ai Weiwei, Han Dynasty Urn with Coca-Cola Logo.
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to ... Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to ...
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Introduction to Macular Degeneration

For a complete list of videos, visit our video library