« previous next »

Author Question: If Arnold thinks his last dollar spent golfing yields less satisfaction than the last dollar spent ... (Read 99 times)

cnetterville

  • Hero Member
  • *****
  • Posts: 547
on: Jul 1, 2018
If Arnold thinks his last dollar spent golfing yields less satisfaction than the last dollar spent on movies, and Arnold is a utility-maximizing consumer, he should
 a. golf more so that the total satisfaction from this activity will increase
  b. spend less on movies so that the marginal satisfaction from expenditures in this area will increase
  c. golf less and spend more on movies
  d. eliminate golfing from his schedule
  e. golf more since it costs less

Question 2

If by purchasing a little more milk and a little less ice cream you could increase your total utility,
 a. the MU of milk must be greater than that of ice cream
  b. the MU of ice cream must be greater than that of milk
  c. the MU/P of milk must be greater than that of ice cream
  d. milk must be cheaper than ice cream
  e. the MU of milk will increase


Gabe

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

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.

Cross-sectional data showing that the amount of effort spent on personal health care increases with Cross-sectional data showing that the amount of effort spent on personal health care increases with
Remedies for insomnia include increased physical exercise and time spent outdoors. Remedies for insomnia include increased physical exercise and time spent outdoors.
Deconvolution fluorescence microscopy yields high-resolution optical sections th Deconvolution fluorescence microscopy yields high-resolution optical sections th
W(illiam) E(dward) B(urghardt) Du Bois (1868–1963) spent his lifetime studying relations between ... W(illiam) E(dward) B(urghardt) Du Bois (1868–1963) spent his lifetime studying relations between ...
Robert K. Merton (1910–2003), who spent most of his academic career at Columbia University, was a ... Robert K. Merton (1910–2003), who spent most of his academic career at Columbia University, was a ...
Students rated their grandparents on a scale from 1 to 4 based on emotional closeness, time spent ... Students rated their grandparents on a scale from 1 to 4 based on emotional closeness, time spent ...
Video: Introduction to Genetics

For a complete list of videos, visit our video library