This topic contains a solution. Click here to go to the answer

Author Question: A consumer satisfies the condition MU x/ P x= MU y/ P ywhen his indifference curve ________ his ... (Read 105 times)

student77

  • Hero Member
  • *****
  • Posts: 567

Question 1

Toby tells you that he prefers hamburgers to hot dogs, hot dogs to tacos, and hamburgers to tacos. This violates what assumption made when analyzing consumer preferences?


◦ that more is better
◦ that there is a diminishing marginal rate of substitution
◦ that consumers are rational
◦ This does not violate any assumptions relating to consumer preference.

Question 2

A consumer satisfies the condition 
MU
x/
P
x = 
MU
y/
P
y when his indifference curve ________ his budget constraint.


◦ is completely above
◦ is completely below
◦ is just tangent to
◦ crosses


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by student77 on Apr 19, 2019

emily12345

  • Sr. Member
  • ****
  • Posts: 321
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 25% of students answer this correctly





 

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

For a complete list of videos, visit our video library