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

Author Question: The production possibilities curve of a low income country lies outside the production possibilities ... (Read 127 times)

swpotter12

  • Hero Member
  • *****
  • Posts: 527
on: Jun 30, 2018
The production possibilities curve of a low income country lies outside the production possibilities curve of a high income country.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

An individual consumes only hamburgers and milkshakes. The last hamburger consumed yields 25 utils of satisfaction, while the last milkshake consumed yields 10 utils of satisfaction. If the price of a hamburger is 2.50 and the price of a milkshake is 1.50, we can conclude that:
 a. the consumer should consume more hamburgers and fewer milkshakes.
  b. the consumer should consume more milkshakes and fewer hamburgers.
  c. the consumer has achieved consumer equilibrium.
 d. the consumer should buy only milkshakes.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jayson

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

a


swpotter12

  • Hero Member
  • *****
  • Posts: 527
Reply #2 on: Jun 30, 2018
Thank you :)


Jayson

  • Sr. Member
  • ****
  • Posts: 350
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Abiotic production of biomolecules Abiotic production of biomolecules
An Estimate of the Time of Global Peak Conventional Oil Production An Estimate of the Time of Global Peak Conventional Oil Production
Bell Curve for Intelligence IQ scores for a population-based sample usually fall into this kind of Bell Curve for Intelligence IQ scores for a population-based sample usually fall into this kind of
Although crassly put by the cartoonist, behind the glass ceiling lies this background assumption. Although crassly put by the cartoonist, behind the glass ceiling lies this background assumption.
Hubbard’s Predication of Peak in U.S Oil Production with Actual Data Hubbard’s Predication of Peak in U.S Oil Production with Actual Data
Stem Cell Production Stem Cell Production
Video: Humerus Adduction Animation

For a complete list of videos, visit our video library