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

Author Question: A consumer satisfies the condition MU x/ P x= MU y/ P ywhen his indifference curve ________ his ... (Read 151 times)

student77

  • Hero Member
  • *****
  • Posts: 567
on: Apr 19, 2019

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
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 student77 on Apr 19, 2019

emily12345

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


student77

  • Hero Member
  • *****
  • Posts: 567
Reply #2 on: Apr 19, 2019
Excellent


emily12345

  • Sr. Member
  • ****
  • Posts: 321
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

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

Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the
The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig
Hockey stick” curve Hockey stick” curve
An Environmental Kuznets Curve An Environmental Kuznets Curve
The Kuznets Curve The Kuznets Curve
The Radioactive Decay Curve The Radioactive Decay Curve
Video: Definition of heart rate

For a complete list of videos, visit our video library