Bridget making the utility-maximizing choice, Business Management

Assignment Help:

Bridget has a limited income and consumes only wine and cheese; her current con- sumption choice is four bottles of wine and 10 pounds of cheese. The price of wine is $10 per bottle, and the price of cheese is $4 per pound. The last bottle of wine added 50 units to Bridget's utility, while the last pound of cheese added 40 units.

a. Is Bridget making the utility-maximizing choice?Why or why not?

b. Ifnot,what should she do instead?Why?

 

 


Related Discussions:- Bridget making the utility-maximizing choice

Business plan, starting up a maintances business plan

starting up a maintances business plan

International Business Case Study, VK Ltd a multi product company, furnishe...

VK Ltd a multi product company, furnishes you the following data relating to the year 2000. First half sales Second half sales Sales Rs.45000 Rs.50000 Total cost Rs.40000 Rs.43000

GBED1101, Some people argue that the matrix structure should be adopted onl...

Some people argue that the matrix structure should be adopted only as a last resort because the dual chains of command can create more problems than they solve. Do you agree or dis

International business of ernst & young, International Business of Ernst & ...

International Business of Ernst & Young Ernst & Young is one of the largest global leaders in the professional service provider. As per the changing demand of the customers,

Competitive strategies for information system, Q. Competitive strategies fo...

Q. Competitive strategies for Information system? Business is capable to develop competitive strategies to counter the action of the competitive forces they confront the market

Times series, explain time series and its usefulness

explain time series and its usefulness

Describe the problem in this case study, QUESTION Instruction- Read th...

QUESTION Instruction- Read the following case study and answer the questions below Wesley, a newly appointed room attendant supervisor's, productivity has not been as expe

Symptoms of ineffective teams, QUESTION (a) Inexperienced speakers usua...

QUESTION (a) Inexperienced speakers usually make the mistake of starting to plan the introduction part first. Discuss and elaborate on the different approaches/patterns used fo

Total quality management, Describe the key aspects of a programme to implem...

Describe the key aspects of a programme to implement Total Quality Management (TQM) within a manufacturing organisation. Clarify the meaning of quality in respect of the produc

Write Your Message!

Captcha
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