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

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

Test marketing & FMCG, explain the various approaches that are followed by ...

explain the various approaches that are followed by FMCG companies in test marketing

B, #quesExplain the different delivery styles that speakers can select for ...

#quesExplain the different delivery styles that speakers can select for their presentation.tion..

ORKING CAPITAL, Explain why the composition of the working capital of a bus...

Explain why the composition of the working capital of a business is as important as the value of that working capital.

Managerail economics, Using the case study approach,discuss the significanc...

Using the case study approach,discuss the significance of managerial economics in regard to business strategies employed by business entities currently operating in the global econ

About low saving rate in Saudi Arabia, Is it possible to make a chapter of ...

Is it possible to make a chapter of previous studies and the theoretical framework for this topic

Determine the unit cost of the labelling process, The Company have now adde...

The Company have now added one more process to their product's line. The new process is to label their products to reflect their compliance to new international standards. The new

Analysis, an analysis of the fluctuation in share prices of fujitsu LLC and...

an analysis of the fluctuation in share prices of fujitsu LLC and Dell LLC yielded the following results fujitsu LLC Dell LLc Average Price 138.0 118.5

ERP, Distinguish between business function and business process

Distinguish between business function and business process

Marketing, micro and macro environment assignment example

micro and macro environment assignment example

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