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

The problem-solving effectiveness of teams, QUESTION a) The processes t...

QUESTION a) The processes that take place in a team while it is working together (i.e interaction, task & maintenance functions, group cohesion, norms and values) are often ove

Explain the organisational structure, Probelm 1: An organisational stru...

Probelm 1: An organisational structure defines how job tasks are formally grouped and coordinated. (a) What are the key elements considered when designing an organisation's

What is new public management, QUESTION 1 (i) What is New Public Manage...

QUESTION 1 (i) What is New Public Management? (ii) Describe the New Public Management principles which help to transform public sector organisations into entrepreneurial age

Describe when a meeting could be called in business context, QUESTION 1 ...

QUESTION 1 (a) Describe when a meeting could be called in a business context? (b) Describe the advantages as well as disadvantages of meetings QUESTION 2 Write shor

Circulars and notices , Distinguish between circulars and notices along wit...

Distinguish between circulars and notices along with formats

Toyota, What changes in the organizing facet of the P-O-L-C framework might...

What changes in the organizing facet of the P-O-L-C framework might you make at Toyota to prevent future mishaps like the massive recalls related to brake and accelerator failures?

Explain maslows hierarchy of needs theory, Problem 1: Organisations are...

Problem 1: Organisations are evolving as open systems today. They are being influenced by a lot of factors in the business environment. Consequently, managers will be required

Demonstrate your business research skills, This semester-long project provi...

This semester-long project provides an opportunity to demonstrate your business research skills, your financial acumen, and your understanding of how different business models, str

What are the important objectives of job evaluation, What are the important...

What are the important objectives of job evaluation? Objectives of job evaluation are as given below: 1. Chooses the relative values of various jobs in an organization. 2

How can you improve your listening skills, QUESTION We spend a major po...

QUESTION We spend a major portion of our time either transmitting or receiving information. Research has shown that we spend 45% of all our communicating time listening. Since

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages