What is jon marginal utility per dollar

Assignment Help Microeconomics
Reference no: EM132414883

Jon enjoys fishing, which costs $20, and golf which costs $30, and has $140 to spend each month on these activities. Jon fished four times and golfed twice last month. The last fishing outing provided Jon a marginal utility of 50, and the last round of golf provided a marginal utility of 120.

What is Jon's marginal utility per dollar spent on the last time fishing and golfing?

Reference no: EM132414883

Questions Cloud

Resolve the problem of excess carbon emisions : Assume that everyone agrees that global warming is both real and caused by humans give two major reason why bargaining in the spirit of Coase
Data scientist and software development : Data scientist and software development. Summarize your understanding and present it, with focus on working styles and development life cycle.
Calculate the socially efficient levels of output and price : If the above market is competitive, calculate the socially efficient levels of output and price.
Species from the negative impact of people : a) What remains the most effective way we know to protect other species from the negative impact of people?
What is jon marginal utility per dollar : What is Jon's marginal utility per dollar spent on the last time fishing and golfing?
Explain the process of authentication in data system : Describe threats that speci?cally target con?dentiality on a data system. Describe and explain the process of authentication in a data system.
Current status of the market : Is the present situation efficient or inefficient? Do consumers benefit or are they harmed by the current status of the market?
Short run firm supply curve : Each of the following situations could exist for a perfectly competitive firm in the short run. In each case, indicate whether the firm should produce
Describe critical components of cybersecurity architecture : Describe the critical components of a cybersecurity architecture. Be sure it provides defense to protect the organization's data, network, and assets.

Reviews

Write a Review

Microeconomics Questions & Answers

  Ethics & law overlap

3.  Ethics & Law overlap. This is called... A. A) Yellow area B. B) White area

  The democratic congress passed legislation sending

when output and employment slowed in early 2008 the bush administration and the democratic congress passed a

  Define nominal exchange rate and real exchange rate

Define nominal exchange rate and real exchange rate

  Analyze how consumers make economic decisions

You have been asked to assist an organization's marketing department for the food industry to better understand Analyze how consumers make economic decisions.

  Experience zero economic profits

If monopolistically competitive firms have some control over the prices they charge, why do they experience zero economic profits in the long run?

  Discuss how diffusion might be affected by a slow growth

Distinguish between invention as a process and invention as a result. Discuss how diffusion might be affected by a slow growth / no growth economy. Explain the marginal cost and marginal benefit components.

  Explain apparent contradiction of the heckscher-ohlin model

Even though their relative factor abundances differ widely, both India and the United States export similar agricultural products such as rice.

  How family panning policies would change the steady

How family panning policies would change the steady state in a Solow model. A. Draw the initial diagram. B. Suppose that the family planning policies lowered the fertility rate. Which curve or curves will this shift?

  How much will nominal gdp expand

Explain what would happen if banks were notified they had to increase their required reserves by one percentage point from, for example, 9% to10% of deposits.

  What is the break-even price for this market

Suppose in the short run a perfectly competitive firm has variable cost = 6q2, and MC = 12q where q is the quantity of output produced. Also, the firm has fixed cost F = 6144.

  When will the output of an economy be at the natural rate

Is the natural rate of output the full employment level of output (i) in the short run; (ii) in the long run? When will the output of an economy.

  The distinction between recession and depression

The distinction between recession and depression

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