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

Author Question: Mary likes to consume either pizza or spaghetti. She has $48 to spend on these meals. a. One week ... (Read 80 times)

nummyann

  • Hero Member
  • *****
  • Posts: 576
on: May 24, 2019
Mary likes to consume either pizza or spaghetti. She has $48 to spend on these meals.
a.  One week the price of pizza is $8 and the price of spaghetti is $6. Mary uses the indifference curve analysis she learned in microeconomics to decide how much of each type of meal to buy. She puts pizza on the vertical axis and spaghetti on the horizontal axis. What is the marginal rate of substitution at the combination of pizza and spaghetti that Mary chooses?
b.  The next week, the price of pizza is $6 and the price of spaghetti is $8 so Mary adjusts her consumption combination to maximize her total utility. What is her marginal rate of substitution now?
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by nummyann on May 24, 2019

Joc

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: May 24, 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 64% of students answer this correctly


nummyann

  • Hero Member
  • *****
  • Posts: 576
Reply #2 on: May 24, 2019
Excellent


Joc

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Telomere length is related to the amount of time adults spend in leisure time activity. Source: Ada Telomere length is related to the amount of time adults spend in leisure time activity. Source: Ada
Mary Cassatt, Young Mother, Daughter, and Son. Mary Cassatt, Young Mother, Daughter, and Son.
Holy Week in Spain Holy Week in Spain
Should School Meals Align with the Dietary Guidelines for Americans? Should School Meals Align with the Dietary Guidelines for Americans?
How many meals a day should someone eat? How many meals a day should someone eat?
graphic(04-40.jpg) Mary pushes horizontally on a large, heavy table which is s graphic(04-40.jpg) Mary pushes horizontally on a large, heavy table which is s
Video: Miller's reaction chamber experiment Animation

For a complete list of videos, visit our video library