« previous next »

Author Question: Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference ... (Read 251 times)

saraeharris

  • Hero Member
  • *****
  • Posts: 546
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 Keith's utility maximization choice?
◦ only 2 fresh soups
◦ only 4 canned soups
◦ 4 canned soups and 2 fresh soups
◦ 4 canned soups and 4 fresh soups
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


cloudre37

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 18, 2019
only 4 canned soups


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

rosent76

  • Hero Member
  • *****
  • Posts: 516
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. Canned soup sells for $1 per serving and fresh soup sells for $2 per serving. What is Keith's income?
◦ $5
◦ $8
◦ $2
◦ $4


TheDev123

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 18, 2019
$4


rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #4 on: Jun 18, 2019
Excellent


TheDev123

  • Sr. Member
  • ****
  • Posts: 332
Reply #5 on: Jun 18, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Diverticulosis. Figure illustrates external and internal appearance of diverticula. Diverticulosis. Figure illustrates external and internal appearance of diverticula.
C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ... C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ...
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Mobilize hand and wrist joints. Apply scissoring to knuckles and figure-8s to fingers. Holding the ... Mobilize hand and wrist joints. Apply scissoring to knuckles and figure-8s to fingers. Holding the ...
Fresh Green Beans Fresh Green Beans
Video: Inflammation

For a complete list of videos, visit our video library