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

Author Question: Suppose that there are five bottles of lemonade, each of which gives a consumer the same level of ... (Read 167 times)

haleyc112

  • Hero Member
  • *****
  • Posts: 600
on: Jun 30, 2018
Suppose that there are five bottles of lemonade, each of which gives a consumer the same level of utility. According to the law of diminishing marginal utility, how can the consumer receive the highest utility?
 a. Consume all five bottles in the next hour
  b. Consume all five bottles today
  c. Consume all five bottles in one day next week
  d. Consume two bottles today and three tomorrow
  e. Consume one bottle each day for the next five days

Question 2

The vertical distance between the average total cost curve and the average variable cost curve equals:
 a. marginal cost.
 b. average fixed cost.
  c. total fixed cost.
 d. total variable cost.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fraziera112

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

b


haleyc112

  • Member
  • Posts: 600
Reply 2 on: Jun 30, 2018
Gracias!

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Energy Level Diagram of Hydrogen Energy Level Diagram of Hydrogen
Mechanisms of pain at the nociceptor level Mechanisms of pain at the nociceptor level
Projections of global temperature depend heavily on the level of future greenhouse gas emissions Projections of global temperature depend heavily on the level of future greenhouse gas emissions
Changes in the Level of Education, 1975-2010 Changes in the Level of Education, 1975-2010
Let f be a real function with domain R. Suppose that for each ǫ > 0, there is a continuous ... Let f be a real function with domain R. Suppose that for each ǫ > 0, there is a continuous ...
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: Hormonal feedback loop components

For a complete list of videos, visit our video library