« previous next »

Author Question: Lisa spends all her income on pizzas and DVDs. The above table shows Lisa's marginal utility for ... (Read 268 times)

mikaylakyoung

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Lisa spends all her income on pizzas and DVDs. The above table shows Lisa's marginal utility for pizza and marginal utility for DVDs.
 
  If the price of a pizza is 10 and the price of a DVD is 10 and Lisa has 60 to spend on the two goods, what combination of pizza and DVDs will maximize her utility? A) 2 DVDs and 4 pizzas
  B) 3 DVDs and 5 pizzas
  C) 4 DVDs and 2 pizzas
  D) 3 DVDs and 3 pizzas

Question 2

Monopolistic competition is a market structure in which
 
  A) a small number of firms compete.
  B) firms produce identical products.
  C) firms compete only on product price.
  D) firms are free to enter and exit the market.


Joy Chen

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Ionic bonding in table salt (NaCl) Ionic bonding in table salt (NaCl)
How to create a table of values displaying commission and earnings (Question 1) How to create a table of values displaying commission and earnings (Question 1)
Consumerism and Sustainability: Food from Farm to Table Consumerism and Sustainability: Food from Farm to Table
This image shows a normal third-trimester fetal brain This image shows a normal third-trimester fetal brain
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
graphic(04-40.jpg) Mary pushes horizontally on a large, heavy table which is s graphic(04-40.jpg) Mary pushes horizontally on a large, heavy table which is s
Video: Genetics of Cancer

For a complete list of videos, visit our video library