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

Author Question: Michelle spends all of her income on mangos and rice. Mangos cost 2 per pound and rice costs 1.50 ... (Read 44 times)

Sufayan.ah

  • Hero Member
  • *****
  • Posts: 512
on: Jun 29, 2018
Michelle spends all of her income on mangos and rice. Mangos cost 2 per pound and rice costs 1.50 per pound.
 
  If Michelle is spending all of her income and the marginal utility per dollar spent is 20 for the last pound of mangos purchased and 10 for the last pound of rice purchased, then A) Michelle is maximizing utility from her present consumption bundle.
  B) Michelle should buy more rice and fewer mangos in order to maximize utility.
  C) Michelle should buy more mangos and less rice to maximize utility.
  D) None of the above answers is correct.

Question 2

Given the budget line in the figure above, the combination of chips that is NOT affordable is
 
  A) a.
  B) b.
  C) c.
  D) d.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Sarahjh

  • Sr. Member
  • ****
  • Posts: 370
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


Sufayan.ah

  • Member
  • Posts: 512
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

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?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Energy costs of locomotion. Energy costs of locomotion.
Increasing Costs of Natural Disasters Increasing Costs of Natural Disasters
The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
The medical assistant spends many hours on the telephone assisting patients. The medical assistant spends many hours on the telephone assisting patients.
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
The Parade of World Income The Parade of World Income
Video: Glucose Evaluation Procedure

For a complete list of videos, visit our video library