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

Author Question: Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's ... (Read 477 times)

crobinson2013

  • Hero Member
  • *****
  • Posts: 535
on: Jul 1, 2018
Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's utility is U(p,k) = k0.5p0.5 and income is 100, what is the marginal rate of substitution (MRS) between picnics and kayak trips?
 
  A) MRS = 1.
  B) MRS = -1.
  C) MRS = -1/2
  D) There is no substitution because picnics and kayak trips are perfect complements.

Question 2

People view alcohol and marijuana as perfect substitutes. This means that
 
  A) individuals will consume either alcohol or marijuana, but not both, regardless of price.
  B) as the price of alcohol decreases, marijuana use decreases.
  C) the marginal utility for alcohol and marijuana is constant.
  D) Both B and C.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


crobinson2013

  • Hero Member
  • *****
  • Posts: 535
Reply #2 on: Jul 1, 2018
Thank you :)


Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jul 1, 2018
Happy to help you


Simone Jabbesha Clarke

  • Newbie
  • *
  • Posts: 1
Reply #4 on: Oct 28, 2020
thank you


« previous next »
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

A biological profile from the bony remains of an individual may be preferable to a DNA profile for a A biological profile from the bony remains of an individual may be preferable to a DNA profile for a
Individuals Who Should Be Vaccinated Against Hepatitis B Individuals Who Should Be Vaccinated Against Hepatitis B
A utility knife uses replaceable blades and can cut carpet and other materials. A utility knife uses replaceable blades and can cut carpet and other materials.
Sequencing a large chromosome by individual sequence determination of cloned fragments in sequences Sequencing a large chromosome by individual sequence determination of cloned fragments in sequences
The karyotype of an XYY male. Affected individuals are usually taller than normal, and some, but not The karyotype of an XYY male. Affected individuals are usually taller than normal, and some, but not
The outcome of a mating between individuals heterozygous at two genes determining their ABO blood ty The outcome of a mating between individuals heterozygous at two genes determining their ABO blood ty
Video: Graded potentials - electrical characteristics and types

For a complete list of videos, visit our video library