« previous next »

Author Question: Lisa spends all her income on pizzas and DVDs. The above table shows Lisa's marginal utility for ... (Read 289 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?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Your heart beats over 36 million times a year.

Fluidization - Data Table of experiment Fluidization - Data Table of experiment
The cradle. Rest your hands on the table, supporting the recipient’s head in your palms. Your ... The cradle. Rest your hands on the table, supporting the recipient’s head in your palms. Your ...
The periodic cylinder of the elements. When the periodic table is folded in such a way that the ... The periodic cylinder of the elements. When the periodic table is folded in such a way that the ...
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
The Farm-to-Table Continuum The Farm-to-Table Continuum
Variable and absorption costing, explaining operating-income differences. Variable and absorption costing, explaining operating-income differences.
Video: New DNA Strand Replication

For a complete list of videos, visit our video library