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

Author Question: Consider a society consisting of just a farmer and a tailor. The farmer has 10 units of food but no ... (Read 50 times)

cabate

  • Hero Member
  • *****
  • Posts: 537
on: Jun 18, 2019
Consider a society consisting of just a farmer and a tailor. The farmer has 10 units of food but no clothing. The tailor has 20 units of clothing but no food. Suppose each has the utility function U = F ∗ C. The price of clothing is always $1. If the price of food is $3, does a competitive equilibrium exist? If not, what will happen to the price of food?
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by cabate on Jun 18, 2019

sarah_brady415

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 18, 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 35% of students answer this correctly


cabate

  • Hero Member
  • *****
  • Posts: 537
Reply #2 on: Jun 18, 2019
TY


sarah_brady415

  • Sr. Member
  • ****
  • Posts: 328
Reply #3 on: Jun 18, 2019
You're welcome


« previous next »
 

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

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?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Ecological pyramids in food webs. Ecological pyramids in food webs.
Food web associated with algal turf during the summer in the Eel River, California. Food web associated with algal turf during the summer in the Eel River, California.
Sustainable Food Security Sustainable Food Security
How Much Food Does the World Produce Per Person? How Much Food Does the World Produce Per Person?
Mix Up Your Choices within Each Food Group Mix Up Your Choices within Each Food Group
Mexican food - Tacos with French fries Mexican food - Tacos with French fries
Video: Chemical Synapse Animation

For a complete list of videos, visit our video library