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

Author Question: Consumer equilibrium is reached when: a. an individual spends her entire income. b. there is no way ... (Read 24 times)

joesmith1212

  • Hero Member
  • *****
  • Posts: 549
on: Jun 30, 2018
Consumer equilibrium is reached when:
 a. an individual spends her entire income.
 b. there is no way a consumer, given the available income, could increase her satisfaction.
  c. marginal utility begins to diminish.
 d. marginal utility is maximized, subject to the available income.

Question 2

The marginal factor cost (MFC) is the:
 a. value of the additional output that an extra unit of a resource can produce.
  b. additional cost of employing an additional unit of a resource.
  c. additional cost of producing an additional unit of output.
  d. the ratio of the total fixed cost to the total cost of production.
  e. ratio of total cost to the total amount of resources employed.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

whitcassie

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


joesmith1212

  • Member
  • Posts: 549
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

Viet Thy

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

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?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

A tail from a different individual - the tail of each humpback whale is visibly unique. A tail from a different individual - the tail of each humpback whale is visibly unique.
Women who are 65 and older have a lower median income from all sources than men in the same age ... Women who are 65 and older have a lower median income from all sources than men in the same age ...
(A) Effleurage to entire arm to apply oil or lotion. (B) Apply with flat palms and fingers from ... (A) Effleurage to entire arm to apply oil or lotion. (B) Apply with flat palms and fingers from ...
Relationship between Income Inequality and Sociopolitical Instability Relationship between Income Inequality and Sociopolitical Instability
Relationship between Latitude and Income per Capita Relationship between Latitude and Income per Capita
What is the value of the equilibrium constant, K, at 25°C for the reaction? What is the value of the equilibrium constant, K, at 25°C for the reaction?
Video: Glomerubular filtrate rate -pressures that affect GFR and net filtration pressure

For a complete list of videos, visit our video library