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 research report, You have been hired by Austrade to write a report...

You have been hired by Austrade to write a report advising on the attractiveness of Australia for manufacturing and service operations competitiveness. Your task will be to conduct

Accident control or prevention, Accident Control or Prevention Acciden...

Accident Control or Prevention Accident  prevention  involves removal  or control  of hazards. It  both  science and  art. It represents  above  all other  things  control  of

Organization for maintenance, Organization structures for maintenance var...

Organization structures for maintenance vary across companies the deciding factors on a particular type being the nature of industry ( electrical chemical or mechanical) size

What is video-conferencing and what are its requirements, QUESTION An a...

QUESTION An area where telecommunication is gaining ground among businesses and academics is video-conferencing. However Video-Phone systems have existed for years, but have no

Public key infrastructure, QUESTION a) Explain the encryption/decryptio...

QUESTION a) Explain the encryption/decryption process and state the two things on which the security of encrypted data is entirely dependent. b) Explain briefly what SSL (Se

How is effective delegation affected in the organisation, How is the Effect...

How is the Effective Delegation affected in the organisation? Effective Delegation: Effective delegation is said to exist while an executive in place of doing all the thi

Describe the role of the secretary, Question 1: As our society becomes ...

Question 1: As our society becomes increasingly diverse, the ability to communicate with members from other cultures becomes a business necessity. Explain four intercultural di

Managerial skills(10), what are some of the main best managerial skills

what are some of the main best managerial skills

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