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

What are types of entrepreneur on the basis of ownership, What are types of...

What are types of Entrepreneur on the basis of ownership? Classification on the Basis of Ownership: a. Founder or "Pure Entrepreneurs": Such individuals who are the f

Briefly discuss how management theory evolved, QUESTION Great feats of ...

QUESTION Great feats of human achievement such as the Egyptian pyramids, the Great Wall of China, the Colosseum in Rome and the Taj Mahal in India all bear testimony to skilled

Explain the problem of industrial marketing in india, Explain the problem o...

Explain the problem of industrial marketing in India. Problem of Industrial Marketing in India: Industrial market comprises all individuals and organisations which acquire

Finance, What are three short-term financing and their examples?

What are three short-term financing and their examples?

Problem based on bags r us ltd, Bags R Us Ltd P&L Account for Bags R Us...

Bags R Us Ltd P&L Account for Bags R Us, year ended 31 st March 2008.   $ $ Sales ($35 * 3,000)   105,000

What is free rein or laissez faire in leadership, What is free rein or lais...

What is free rein or laissez faire in leadership? Free Rein or Laissez Faire: • Leadership leaves subordinates completely to themselves for task achievement. • Exercis

Contribution of education to the social structure, "Society can survive onl...

"Society can survive only if there exists among its members a sufficient degree of homogeneity; education perpetuates and reinforces this homogeneity by fixing in the child from th

Describe the life-cycle stages of organizations, Question 1: (a) Why mu...

Question 1: (a) Why must management delegate some authority and responsibility in large complex organisations? (b) Why, in practice, many managers are reluctant to delegate

Political environment analysis of car industry, Analyse the political Envir...

Analyse the political Environment of car distribution industry.

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