« previous next »

Author Question: Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference ... (Read 150 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?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

The meninges. This figure illustrates the location and structure of each layer of the meninges and t The meninges. This figure illustrates the location and structure of each layer of the meninges and t
Structure of the ovary and uterine (fallopian) tube. Figure illustrates stages of ovum development a Structure of the ovary and uterine (fallopian) tube. Figure illustrates stages of ovum development a
Bronchoscopy. Figure illustrates physician using a bronchoscope to inspect the patient’s bronchial t Bronchoscopy. Figure illustrates physician using a bronchoscope to inspect the patient’s bronchial t
Move joints in hands. Apply scissoring to metacarpals and figure-8s to fingers. Move joints in hands. Apply scissoring to metacarpals and figure-8s to fingers.
Colossal Figure of Akhenaten Colossal Figure of Akhenaten
As shown in the figure, a large open tank contains a layer of oil ( density 450 kg/m3) floating ... As shown in the figure, a large open tank contains a layer of oil ( density 450 kg/m3) floating ...
Video: Stress and Immune System Animation

For a complete list of videos, visit our video library