User Account

All Pages

Consumption bundle that maximizes marginal utility

Assignment Help Business Management
Reference no: EM131675145

True of False please explain why

(a) Suppose Jake's preferences over pizzas and books can be represented by a utility function. After a price drop in pizzas, his utility increases from 50 to 100. This means that he is now twice as happy as he was before the price drop.

(b) A consumer always chooses the consumption bundle that maximizes her marginal utility, given her budget constraint.

(c) Connie consumes cookies and coffee. She always takes one cup of cookies with one cup of coffee. If the price of coffee drops, Connie's utility pops.

(d) If a consumer has Cobb-Douglas preferences, then neither of the two goods she consumes can be a luxury good.

Reference no: EM131675145

Questions Cloud

Increase in equality in the united states : If the United States government raises the income taxes on the wealthiest Americans, while increasing welfare payments to the poorest Americans
Discuss technique for promoting creativity-innovation : discuss a technique for promoting creativity/innovation. Use a real life example to illustrate your point.
What is essential to do when using positive reinforcement : What is essential to do when using positive reinforcement. Pick a behavior you would like to teach to someone in your life
On what basis should immigrants be admitted : How many immigrants do you think should be granted legal permanent resident status each year in the United States.
Consumption bundle that maximizes marginal utility : A consumer always chooses the consumption bundle that maximizes her marginal utility, given her budget constraint.
Define why is it important to know the animal or person : Why is it important to know the animal or person you are teaching. Use an example from the book and one from your own life to elaborate
What is the difference between common law and statutory law : What is the difference between common law and statutory law? Benefits and drawbacks of working in a centralized and/or a decentralized organization.
Derive her optimal consumption bundle : Derive her optimal consumption bundle. Show the calculation, and illustrate your answer graphically please.( indifference curves and the budget constraint).
What was the negligent misrepresentation at issue : Mewhinney appealed the judgment. What was the negligent misrepresentation at issue? What do you think the outcome of the appeal was? Why?

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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