Solution-Is sue maximizing her utility

Is sue maximizing her utility

Assignment Help Business Management

Reference no: EM131218635

Sue consumes only two goods, food and clothing. The marginal utility of the last dollar she spends on food is 12, and the marginal utility of the last dollar she spends on clothing is 9. The price of food is $1.20/unit, and the price of clothing is $0.90/unit. Is Sue maximizing her utility?

Reference no: EM131218635

Questions Cloud

Cost of attaining an educational level : For Group A the cost of attaining an educational level y is CA(y) = $6, 000yand for Group B the cost of attaining that level is CB(y) = $10, 000y. Employees will be offered $50,000 if they have y y∗

What about the standard beyond a reasonable doubt : For the second part of the question, what implications do you see if the same 12 person jury did not have to have a unanimous vote? You only had to convince 2/3rds of the jurors? Is this fair? What about the standard "beyond a reasonable doubt"? O..

How does mc rises when ac rises? : In Indian agriculture, we obtain 120million tons of food grains, by employing 20 millions of labourers, if it employs one more million labour, production rises by 6 million tons, which type of return it is? What is shown in OABQ in the following figu..

Labor force participation by women : The rate of population growth in US has been declining in the past three decades. This period also coincides with increased labor force participation by women.

Is sue maximizing her utility : Sue consumes only two goods, food and clothing. The marginal utility of the last dollar she spends on food is 12, and the marginal utility of the last dollar she spends on clothing is 9. The price of food is $1.20/unit, and the price of clothing i..

Write a literature review using the articles : Write a literature review using the articles provided on Moodle, You must use at least three of the journal articles given on moodle, You don't have to use all of the journal articles.

What was the current account balance : Assume there are only 3 countries in the world: X, Y, and Z. In 2010, X ran a Current Account deficit of $10 billion while X ran a Current Account surplus of $3.5 billion. What was the Current Account balance for Z? Was it a surplus or a deficit?

Peter form a cartel and maximize their joint profit : If Bill, Ben ,and Peter form a cartel and maximize their joint profit, the price of a unit of oil is $- and the quantity produced is ----units a day.

The phrase an economic boom is around corner is example of : The phrase "An economic boom is around the corner" is an example of. The statement "This year the number of housing starts increased, inventories declined, and the stock market rose significantly" is an example of.

User Account

All Pages

Is sue maximizing her utility

Reference no: EM131218635

Reference no: EM131218635

Questions Cloud

Reviews

Write a Review

Business Management Questions & Answers

Caselet on michael porter’s value chain management

Mountain man brewing company

Mountain man brewing company

Analysis of the case using the doing ethics technique

Affiliations and partnerships

Innovation-friendly regulations

Effect of regional and corporate cultural issues

Structure of business plan

Identify the purposes of different types of organisations

Entrepreneur case study for analysis

Forecasting and business analysis

Educational instructional leadership

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT