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

Author Question: Jon is consuming X and Y so that he is spending his entire income and MU x/ P x= 8 and MU y/ P y= 4. ... (Read 41 times)

Chloeellawright

  • Hero Member
  • *****
  • Posts: 588
on: Apr 19, 2019

Question 1

Richard is consuming X and Y so that he is spending his entire income and 
MU
x/
P
x = 6 and 
MU
y/
P
y = 10. To maximize utility, he should


◦ continue to consume the same amount of X and 
Y since he is already maximizing utility.
◦ consume less of both X and 
Y.
◦ consume more X and less 
Y.
◦ consume less X and more 
Y.

Question 2

Jon is consuming X and Y so that he is spending his entire income and 
MU
x/
P
x = 8 and 
MU
y/
P
y = 4. To maximize utility, he should consume


◦ the same amount of X and Y since he is already maximizing utility.
◦ less of both X and 
Y.
◦ more X and less 
Y.
◦ less X and more 
Y.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Chloeellawright on Apr 19, 2019

isabelt_18

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Apr 19, 2019
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 30% of students answer this correctly


Chloeellawright

  • Member
  • Posts: 588
Reply 2 on: Apr 19, 2019
Wow, this really help

ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Adults in late middle adulthood frequently look forward to spending more time with their partner Adults in late middle adulthood frequently look forward to spending more time with their partner
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
The Gender Pay Gap Over Time: What Percentage of Men's Income Do Women Earn? The Gender Pay Gap Over Time: What Percentage of Men's Income Do Women Earn?
Effleurage to the entire limb with moderate pressure, followed by nerve strokes as a finishing ... Effleurage to the entire limb with moderate pressure, followed by nerve strokes as a finishing ...
Effect of an Exogenous Shift in Income Effect of an Exogenous Shift in Income
Relationship Between Income per Capita and Population Growth Relationship Between Income per Capita and Population Growth
Video: Cleavage and Implantation Animation

For a complete list of videos, visit our video library