This topic contains a solution. Click here to go to the answer

Author Question: When a consumer maximizes utility subject to a limited income, she allocates income across goods to ... (Read 131 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
When a consumer maximizes utility subject to a limited income, she allocates income across goods to the point that:
 a. the marginal price is the same for all goods.
 b. marginal utility is zero.
 c. marginal utility is negative.
 d. the marginal utility per dollar spent is the same for all goods.

Question 2

Intel microchips are an input in the production of a computer. When the demand for the computer declines:
 a. the quantity demanded of Intel microchips increases.
  b. the quantity demanded of Intel microchips declines.
  c. the demand for Intel microchips increases.
  d. the demand for Intel microchips decreases.
  e. there is no change in the demand for the Intel microchips.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

essyface1

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

d

Answer to Question 2

d





 

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

For a complete list of videos, visit our video library