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Author Question: If a restaurant runs a special and sells a lobster dinner for $4.50, Amy buys one lobster dinner a ... (Read 4400 times)

bclement10

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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
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Marked as best answer by bclement10 on Apr 19, 2019

zhanghao

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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.
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bclement10

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Reply #2 on: Apr 19, 2019
Thanks


zhanghao

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Reply #3 on: Apr 19, 2019
Welcome :)


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