« previous next »

Author Question: Bianca consumes pizza. Marginal utility theory predicts that when the price of pizza increases A) ... (Read 140 times)

dejastew

  • Hero Member
  • *****
  • Posts: 562
on: Jun 29, 2018
Bianca consumes pizza. Marginal utility theory predicts that when the price of pizza increases
 
  A) Bianca's total utility from pizza will increase.
  B) Bianca will buy less pizza.
  C) Bianca's marginal utility from pizza will increase.
  D) Bianca's demand curve for pizza will shift leftward.

Question 2

Teddy buys only chocolate chip cookies and hot chocolate and spends all of his income on the two items. Suppose the price of a cookie rises. According to marginal utility theory, Teddy will buy
 
  A) more cookies and less hot chocolate, which decreases his marginal utility from cookies and increases his marginal utility from hot chocolate.
  B) more cookies and less hot chocolate, which increases his marginal utility from cookies and decrease his marginal utility from hot chocolate.
  C) fewer cookies and more hot chocolate, which decreases his marginal utility from cookies and increases his marginal utility from hot chocolate.
  D) fewer cookies and more hot chocolate, which increases his marginal utility from cookies and decreases his marginal utility from hot chocolate.


TINA

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

The proportion of men and women with elevated blood pressure or taking hypertension medication incre The proportion of men and women with elevated blood pressure or taking hypertension medication incre
Signal Detection Theory Signal Detection Theory
Trichromatic Theory of Color Vision Trichromatic Theory of Color Vision
Vegetables are a low-saturated-fat topping for pizza Vegetables are a low-saturated-fat topping for pizza
Crossing over in prophase I increases genetic variation Crossing over in prophase I increases genetic variation
The Cannon-Bard Theory of Emotion The Cannon-Bard Theory of Emotion
Video: Spinal Cord Injury Animation

For a complete list of videos, visit our video library