Consumer purchases a combination of product

Assignment Help Business Economics
Reference no: EM131008117

Assume that a consumer purchases a combination of product A and product B such that the MUa/Pa=8 and MUb/Pb=6. To maximize utility without spending more money, the consumer should:

Reference no: EM131008117

Questions Cloud

Discuss the main pros and cons of taking import-replacing : Discuss the main pros and cons of taking the import-replacing road to industrialization versus concentrating government aid and private energies on developing new manufacturing exports.
Find rate at which distance between vehicles is increasing : At time t = 0, the police car is 40 km north and the truckis 30 km east of Sioux Falls. Calculate the rate at which the distance between the vehicles is increasing at t = 10 min.
What is meant by culture of compliance : What is meant by culture of compliance. Is the concept applied consistently? In which countries or contexts does this arise? Is it likely to continue to be a factor in regulatory or ethical decisions? What can one do within an organization to foster ..
Determine the voltage across the 9.68 microf capacitor : A 2.56 microF and a 4.42 microF capacitor are connected in series across a 35.0-V battery. A 9.68 micorF capacitor is then connected in parallel across the 2.56- micorF capacitor. Determine the voltage across the 9.68 microF capacitor.
Consumer purchases a combination of product : Assume that a consumer purchases a combination of product A and product B such that the MUa/Pa=8 and MUb/Pb=6. To maximize utility without spending more money, the consumer should:
Study investigating the factors that affect e-trust : E-trust. Online retailers want customers to trust their websites and want to alleviate any concerns potential cus- tomers may have about privacy and security. In a study investigating the factors that affect e-trust, participants were randomly ass..
Intellectual property laws are intended promote innovation : Intellectual property laws are intended to promote innovation, but some economists, such as Milton Friedman, have argued that such laws are not desirable. In the United States, there is no intellectual property protection for food recipes or for fash..
Problem regarding the stock returns : Companies that are ISO 9000 certified have met standards that ensure they have a quality manage- ment system committed to continuous improvement.
Determining the experimental or observational study : a) Is this an experimental or observational study? Explain. b) Is this a prospective or retrospective study? Explain. c) State the null and alternative hypothesis.

Reviews

Write a Review

Business Economics Questions & Answers

  Find the population mean and the standard deviation

Assume that you have a box with an equal number of $4, $6, $8 chips. Find the population mean and the standard deviation. Taking samples of size n = 2, find the mean of the sample means and the standard deviation of the sample means. Explain the rela..

  Generate decrease in the market demand for e-book readers

Identify which of the following would generate a decrease in the market demand for e-book readers, which are a normal good. Write your answer in the space below each change in the market. Write YES if you think that the change would decrease market d..

  How does politics affect economic policies

Give examples of government regulations that work and examples of government regulations that do not work. Explain why in each case. How does politics affect economic policies? Is it negative or positive?

  Equilibrium quantity-equilibrium price

Suppose demand and supply are given by Qd = 40 - P and Qs = 1.0P - 20. What are the equilibrium quantity and price in this market? Equilibrium quantity: Equilibrium price: $ b. Determine the quantity demanded, the quantity supplied, and the magnitude..

  An article in the wall street journal reported

An article in the Wall Street Journal reported that large hotel chains, such as Marriott, are tending to reduce the number of hotels that they franchise to outside owners and increase the number the chain owns and manages itself. What type of agency ..

  Forest point construction

At Forest Point Construction, your boss says that he can estimate the total project time based on his personal experience. You are trying to convince him that he should use project management techniques to handle a complex project. What is the correc..

  Draw the market for smiths house

Smith has been trying to sell his house for 6 months although so far there are no purchasers. Draw the market for Smith's house.

  Determine which should be selected on the basis of rate

The manager of a canned food processing plant is trying to decide between two labelingmachines. Determine which should be selected on the basis of rate of return with a MARR of 20%per year.

  Without changing government spending

what amount of additional government spending (without changing taxes) would be needed to reach the desired increase of GDP? what change in total amount of direct taxes (without changing government spending) would be necessary to reach the same incre..

  Balance the need for scalability against

Your company is bidding on a system design project. It is your job to design the system architecture. How will you balance the need for scalability against the need to keep costs as low as possible to win the bid?

  Percentage gap between the steady-state ratio

Use the 2007 numbers in the first column to compute, for each of the four countries, the percentage gap between the steady-state ratio.

  Elucidate the relationship suggested by these facts

Suppose the following were facts relating years of education to average annual income of individuals. Would you use the inductive or deductive method to derive an economic principle from these facts.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd