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

Author Question: Economic models simplify reality and help us to better understand important aspects of it. ... (Read 83 times)

gonzo233

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
Economic models simplify reality and help us to better understand important aspects of it.
  Indicate whether the statement is true or false

Question 2

According to utility theory, a consumer is in equilibrium when:
 a. total income is spent.
  b. marginal utility per dollar spent for a good is maximized.
  c. total utility per unit of a good is maximized.
  d. total utility per dollar spent is equal for all goods.
  e. marginal utility per dollar spent is equal for all goods.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahchrapun

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 30, 2018
Answer to Question 1

T

Answer to Question 2

e


gonzo233

  • Member
  • Posts: 557
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

at

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Models for the electron orbitals and energy shells of carbon Models for the electron orbitals and energy shells of carbon
Calcium Carbonate, an Important Carbon Sink Calcium Carbonate, an Important Carbon Sink
Climate models the flow of mass and energy Climate models the flow of mass and energy
economic question economic question
economic question economic question
economic question (having trouble) economic question (having trouble)
Video: Hemoglobin's affinity with oxygen - carbon dioxide, temperature and bisphosphoglycerate (BPG)

For a complete list of videos, visit our video library