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

How is pricing affected in marketing management, How is pricing affected in...

How is pricing affected in marketing management? Pricing: The price of the products is implies whereby manufacturers acquire a fair return for their labour and replace/ra

Bureaucratic approach, is bureaucratic approach appropriate for nestle

is bureaucratic approach appropriate for nestle

Describe the decision making process, Question 1: What are the differen...

Question 1: What are the different factors in the external environment that affect your organisation? Question 2: "Working into teams is better than individual work". D

BUSI-600, ETHICS OF RESEARCH is my research paper topic of 3000 words

ETHICS OF RESEARCH is my research paper topic of 3000 words

Example of tqm in services, Customers are surveyed every three months t...

Customers are surveyed every three months to determine how satisfactory the bank services are to customers. Areas of deficiency are identified policies are reviewed and co

Corporate communication and culture, Corporate Communication and Culture: ...

Corporate Communication and Culture: Corporate Communication An emerging area that has been increasingly found as a critical functional area within business companies

What are the characteristics of a small group, QUESTION 1 i) Explain th...

QUESTION 1 i) Explain the following definitions Technical definition Process definition Transactional definition ii) What are the characteristics of a small g

Define what is meant by is evaluation, Brynjolfsson and Hitt (1998) suggest...

Brynjolfsson and Hitt (1998) suggest that the "greatest benefits of computers appear to be realised when computer investment is coupled with other complimentary investments". Br

How are internet technologies affecting the organizations, How are Internet...

How are Internet technologies affecting the structure and work roles of modern organizations? For example, will middle management wither away? Will companies consist primarily of s

How to solve business management assignment?, #question..

#question..

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages