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

Author Question: The demand for corn increases. As a result, the price of corn will ________, and the less elastic ... (Read 203 times)

meagbuch

  • Hero Member
  • *****
  • Posts: 568
on: Jun 29, 2018
The demand for corn increases. As a result, the price of corn will ________, and the less elastic the supply of corn, the ________ will be the effect on the price.
 
  A) fall; smaller
  B) fall; greater
  C) rise; smaller
  D) rise; greater

Question 2

Sonya's budget for magazines and chocolate bars is 50. Her marginal utility from these goods is shown in the table above. If the price of a magazine is 5 and the price of a chocolate bar is 2.
 
  50, which of the following combinations maximizes Sonya's utility? A) 1 magazine and 18 chocolate bars
  B) 2 magazines and 20 chocolate bars
  C) 3 magazines and 14 chocolate bars
  D) 5 magazines and 10 chocolate bars


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

quynhmickitran

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


meagbuch

  • Member
  • Posts: 568
Reply 2 on: Jun 29, 2018
Excellent

upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Elastic fibres are made of elastin, one type of structural protein found in the ECM of animal cells Elastic fibres are made of elastin, one type of structural protein found in the ECM of animal cells
As a result of this change, deoxyhemoglobin S As a result of this change, deoxyhemoglobin S
The Elastic Rebound Theory The Elastic Rebound Theory
The demand for energy is met by burning coal and other fossil fuels The demand for energy is met by burning coal and other fossil fuels
Corn Oil Corn Oil
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Role of the urinary system - acidosis and alkalosis

For a complete list of videos, visit our video library