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

Author Question: Ellen is spending her entire income on goods X and Y. Her marginal utility from the last units of X ... (Read 69 times)

Marty

  • Hero Member
  • *****
  • Posts: 553
on: Apr 19, 2019

Question 1

Sue is maximizing her utility. Her 
MU
x/
P
x = 10 and 
MU
y = 40. Then the price of Y must be


◦ $1.
◦ $4.
◦ $10.
◦ $40.

Question 2

Ellen is spending her entire income on goods X and Y. Her marginal utility from the last units of X and Y that she consumes is 25. Ellen's utility is only maximized if


◦ the prices of X and Y are the same.
◦ the price of good X is twice that of good Y.
◦ the price of good Y is twice that of good X.
◦ We cannot determine whether Ellen is maximizing her utility.
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 Marty on Apr 19, 2019

millet

  • Sr. Member
  • ****
  • Posts: 354
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 42% of students answer this correctly


Marty

  • Member
  • Posts: 553
Reply 2 on: Apr 19, 2019
:D TYSM

nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
Galaxies Forming by Combining Smaller Units Galaxies Forming by Combining Smaller Units
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Apply oil or lotion to the entire leg and hip. Slide palms from lower leg to buttocks. Inside hand ... Apply oil or lotion to the entire leg and hip. Slide palms from lower leg to buttocks. Inside hand ...
Apply long effleurage stroke to entire arm-hand to shoulder. Brush off from shoulder to hand to ... Apply long effleurage stroke to entire arm-hand to shoulder. Brush off from shoulder to hand to ...
Video: Sickle Cell Anemia

For a complete list of videos, visit our video library