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

Author Question: When isolating the substitution effect of a change in an individual's budget constraint, _____ is ... (Read 238 times)

bb

  • Hero Member
  • *****
  • Posts: 544
on: Jul 1, 2018
When isolating the substitution effect of a change in an individual's budget constraint, _____ is held constant.
 
  a. utility
  b. budget
  c. income
   d. consumption

Question 2

The utility maximizing consumption bundle for an individual can be found by locating _____.
 
  a. the individual's bliss point
  b. any point on an indifference curve touching the budget constraint
  c. the highest point on an individual's indifference curve
   d. the point tangent to an individual's budget constraint


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Heffejeff

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


bb

  • Member
  • Posts: 544
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

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

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Unique markings identify individual humpback whales. Unique markings identify individual humpback whales.
Barriers to change Barriers to change
Coral growth rings as an indicator of environmental change Coral growth rings as an indicator of environmental change
The Serial-Position Effect The Serial-Position Effect
Determine the enthalpy change of this reaction Determine the enthalpy change of this reaction
The Effect of Multiple Contributing Genes on Phenotypic Variation The Effect of Multiple Contributing Genes on Phenotypic Variation
Video: Hydrogen bonds - role in the body

For a complete list of videos, visit our video library