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 79 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

kishoreddi

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

« previous next »
 

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

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?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation. Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation.
Gram negative flowchart Gram negative flowchart
Negative feedback control of a regulated variable. Negative feedback control of a regulated variable.
Candidates for jobs are sometimes rejected when the prospective employer finds negative images or ... Candidates for jobs are sometimes rejected when the prospective employer finds negative images or ...
Control of thyroxine secretion through negative feedback. Control of thyroxine secretion through negative feedback.
Control of Homeostasis: Negative Feedback Control of Homeostasis: Negative Feedback
Video: Ear Virtual Tour Animation

For a complete list of videos, visit our video library