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

Author Question: If a restaurant runs a special and sells a lobster dinner for $4.50, Amy buys one lobster dinner a ... (Read 4365 times)

bclement10

  • Hero Member
  • *****
  • Posts: 560
on: Apr 19, 2019

Question 1

A household will buy a good as long as the


◦ good's price is greater than the maximum a consumer would be willing to pay for it.
◦ marginal utility from its consumption is greater than or equal to its market price.
◦ good still provides the consumer with average utility.
◦ good's use value is less than the price being charged for the good.

Question 2

If a restaurant runs a special and sells a lobster dinner for $4.50, Amy buys one lobster dinner a week. If lobster dinners are not on special and the price is $16.00, Amy buys zero lobster dinners per week. Which of the following is 
true?


◦ Amy's demand for lobster is inelastic.
◦ Amy's marginal utility from a lobster dinner is less than $4.50.
◦ The value of Amy's marginal utility from a lobster dinner is at least $4.50 and less than $16.00.
◦ Amy's marginal utility from a lobster dinner is greater than $16.00.
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 bclement10 on Apr 19, 2019

zhanghao

  • Sr. Member
  • ****
  • Posts: 316
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 56% of students answer this correctly


bclement10

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Apr 19, 2019
Thanks


zhanghao

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Apr 19, 2019
Welcome :)


« previous next »
 

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

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?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Lobster Lobster
Communicating with patients with special needs Communicating with patients with special needs
Jan de Heem, Still Life with Lobster. Jan de Heem, Still Life with Lobster.
The vast majority of older adults live in their own homes, even when they need special equipment or ... The vast majority of older adults live in their own homes, even when they need special equipment or ...
Children with disabilities used to be sent to special schools. In a process called mainstreaming or ... Children with disabilities used to be sent to special schools. In a process called mainstreaming or ...
Top your dinner pasta with broccoli for a selenium-smart meal Top your dinner pasta with broccoli for a selenium-smart meal
Video: Bulk flow - factors that influence bulk flow

For a complete list of videos, visit our video library