« previous next »

Author Question: Jason buys only music downloads and food with his weekly income. In response to a decrease in the ... (Read 62 times)

tsand2

  • Hero Member
  • *****
  • Posts: 520
on: Jun 30, 2018
Jason buys only music downloads and food with his weekly income. In response to a decrease in the price of downloads, he buys more downloads and less food. As a result, we would expect:
 a. the marginal utility of downloads to increase and the marginal utility of food to decrease.
  b. the marginal utility of both downloads and food to remain unchanged.
 c. the marginal utility of downloads to decrease and the marginal utility of food to increase.
  d. the marginal utility of food to become negative.

Question 2

If the resource market is perfectly competitive:
 a. the market demand for the resource is perfectly elastic.
  b. the market demand for the resource is perfectly inelastic.
  c. the suppliers can affect the input price by increasing or reducing their supply.
  d. the input price to each firm is constant.
  e. the supply of the resource is perfectly inelastic.


djofnc

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Worldwide Variations in Population and Income Levels Developed countries represent only 18% of the Worldwide Variations in Population and Income Levels Developed countries represent only 18% of the
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
PGC-1 and SIRT1 control the reprogramming of fuel utilization pathways in response to fasting PGC-1 and SIRT1 control the reprogramming of fuel utilization pathways in response to fasting
Food choices vs. energy choices Food choices vs. energy choices
Food: Made Over Made Better Food: Made Over Made Better
Food Poisoning from Staphylococcus Aureus Bacteria Food Poisoning from Staphylococcus Aureus Bacteria
Video: Neural regulation of blood pressure - baroreceptor and chemoreceptor reflexes

For a complete list of videos, visit our video library