Consumer who is maximizing utility

Assignment Help Business Economics
Reference no: EM131104890

The price of a video is $3 and the price of a dinner is $9. From this we know that a consumer who is maximizing utility will a. Buy enough of the two goods such that the marginal utility from the last dinner consumed is three times greater than the marginal utility from the last video. b. Buy three times as many dinners as videos. c. Buy rough of the two goods such that the marginal utility from the last vide is three times greater than the marginal utility from the last dinner consumed. d. Buy three times as many videos as dinners.

Reference no: EM131104890

Questions Cloud

Two goods that she likes hamburgers and fries : Kalia is currently spending all of her weekly income purchasing the two goods that she likes hamburgers and fries. She is currently purchasing 10 hamburgers and 5 large fries. She receives 40 utils from her 10th hamburger and 20 utils from her 5th la..
Creating a simulation of an operating system : The project will consist of creating a simulation of an operating system scheduler handling multiple threads or processes. The student will create a program that launches 6 - 10 worker threads simulating a processor bound, I/O bound and an interm..
Determine and plot the density function of z : We say that Z is exponentially distributed with parameter A > 0 in the distribution function of Z is given by:P(Z
Developments affect aggregate demand : How would the following developments affect aggregate demand and/or aggregate supply? Explain briefly. An increase in business subsidies. More funding for research and development in new technologies.
Consumer who is maximizing utility : The price of a video is $3 and the price of a dinner is $9. From this we know that a consumer who is maximizing utility will a. Buy enough of the two goods such that the marginal utility from the last dinner consumed is three times greater than the m..
Which format do you prefe : (Multiple-step and Single-step) The accountant of Whitney Houston Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2004.
Use the aggregate demand and aggregate supply model : Some economists argue that it is easier to resolve demand-pull inflation than it is cost-push inflation. Use the aggregate demand and aggregate supply model to explain this assertion.
Determine the phase noise at the following frequencies : determine the phase noise (in dBc/Hz) at the following frequencies:
How many security guards should the firm hire : a. If each security guard is paid $200 a week and the cost of a stolen radio is $25, how many security guards should the firm hire? b. If the cost of a stolen radio is 525, what is the most the firm would be willing to pay to hire the first security ..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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