« previous next »

Author Question: Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference ... (Read 119 times)

MGLQZ

  • Hero Member
  • *****
  • Posts: 579
on: Jun 18, 2019



Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. Which of the following choices Keith cannot afford?
◦ only 4 canned soups
◦ 2 canned soups and 1 fresh soup
◦ 3 canned soups and 2 fresh soups
◦ only 2 fresh soups
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


stallen

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 18, 2019
3 canned soups and 2 fresh soups


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

vicky

  • Hero Member
  • *****
  • Posts: 586
Reply #2 on: Jun 18, 2019



Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. What is the marginal rate of transformation (MRT) of Keith's budget constraint?
◦ MRT = -1
◦ MRT = -4
◦ MRT = -0.5
◦ MRT = -2


bitingbit

  • Sr. Member
  • ****
  • Posts: 323
Reply #3 on: Jun 18, 2019
MRT = -2


vicky

  • Hero Member
  • *****
  • Posts: 586
Reply #4 on: Jun 18, 2019
Thank you!


bitingbit

  • Sr. Member
  • ****
  • Posts: 323
Reply #5 on: Jun 18, 2019
Always glad to help...


« previous next »
 

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Hyperopia (farsightedness). In the uncorrected top figure, the image would come into focus behind th Hyperopia (farsightedness). In the uncorrected top figure, the image would come into focus behind th
In this cartoon, Boss Tweed welcomes cholera—a skeletal figure of death carrying a handbag from “Asi In this cartoon, Boss Tweed welcomes cholera—a skeletal figure of death carrying a handbag from “Asi
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Mobilize the joints in the hand. Follow with figure-8s at the knuckles and scissoring the ... Mobilize the joints in the hand. Follow with figure-8s at the knuckles and scissoring the ...
The cube of insulating material shown in the figure has one corner at the origin. Each side of ... The cube of insulating material shown in the figure has one corner at the origin. Each side of ...
Frequency distribution of phenotypes from the possible offspring in Figure 5.7. Height of the offspr Frequency distribution of phenotypes from the possible offspring in Figure 5.7. Height of the offspr
Video: Inflammation Animation

For a complete list of videos, visit our video library