Utility, Microeconomics

Assignment Help:
Lakshani has $5 to spend on pens and pencils. Each pen costs $0.50 and each pencil costs $0.10. She is thinking about buying 6 pens and 20 pencils. The last pen would add five times as much to her total utility as the last pencil.

Related Discussions:- Utility

.marketing structures, discuss the implications of various market structure...

discuss the implications of various market structures(competitive and non-competitive)for price determination

CONSUMER BEHAVIOR, DISCUSS THE HICKSIAN & SLUTSKIAN APPROACH TO CONSUMER BE...

DISCUSS THE HICKSIAN & SLUTSKIAN APPROACH TO CONSUMER BEHAVIOR WHERE THERE IS CHANGE IN PRICE OF ONE GOOD GIVEN TWO GOODS

Factors of production, Factors of Production Factors of production are ...

Factors of Production Factors of production are the resources that are utilized to manufacture goods and services: 1. Natural resources: The things developed by acts of n

Equilibrium, Equilibrium is explained as follows: Equilibrium is the st...

Equilibrium is explained as follows: Equilibrium is the state in which there are no shortages and surpluses; or we can say that the quantity demanded is equal to the quantity s

Teacher-wellston high school, When the curve that envelops the sweries of p...

When the curve that envelops the sweries of possible short-run average total cost curves is horizontal, this means that they are a. economies of scale, b. dieconomies of scale, co

Benefits of education, Normal 0 false false false EN-IN...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

The demand curve, The owner of the sole stage-theatre in the city of Vorder...

The owner of the sole stage-theatre in the city of Vordervilla has found through   experience that the cost of running his 600-seat theatre remains virtually the same irrespective

Describe what is meant by cross elasticity of demand, Question: (a) Wit...

Question: (a) With the help of diagrams, explain how the price and quantity demanded or supplied of fuel will change under the different scenarios: (i) Consumers expect a fu

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