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

Author Question: What does the negative slope of the utilities possibilities frontier imply? A) Diminishing ... (Read 18 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
on: Jul 1, 2018
What does the negative slope of the utilities possibilities frontier imply?
 
  A) Diminishing marginal utility.
  B) The only way to increase one person's utility is to decrease another person's utility.
  C) Diminishing marginal rates of substitution.
  D) The only way to increase output of one good is to decrease output of another.

Question 2

Suppose the market price for wheat changes, and we move from point A to point B on the wheat demand curve.
 
  If the price elasticity of wheat demand was -0.3 at point A and -0.4 at point B, what is a plausible value for the arc elasticity of demand for wheat between points A and B?
  A) -0.25
  B) -0.35
  C) -0.45
  D) -0.70


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Madisongo23

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


imanialler

  • Member
  • Posts: 539
Reply 2 on: Jul 1, 2018
Wow, this really help

Zebsrer

  • Member
  • Posts: 284
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

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?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Negative control of an inducible set of genes: function of the lac repressor in regulating the lac o Negative control of an inducible set of genes: function of the lac repressor in regulating the lac o
Diminishing and disappearing populations. Diminishing and disappearing populations.
Slope Failure and Lithology Slope Failure and Lithology
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Negative reciprocal Negative reciprocal
Negative Feedback and Temperature Control Negative Feedback and Temperature Control
Video: Contraction and Relaxation Animation

For a complete list of videos, visit our video library