Homework Answers
Answer - along
Reason - marginal rate of substitution is the unit of a good which the consumer is willing to sacrifice to get an extra unit of other good.
The combination of such goods are plotted along the indifference curve. And marginal rate of substitution can be calculated from any two of such points along the indifference curve.
Add Answer to:
Question 13 0.8 pts The marginal rate of substitution is obtained from two pointsthe indifference curve...
Question 31 2 pts Refer to the following indifference curve. The marginal rate of substitution (MRS)...
Question 31 2 pts Refer to the following indifference curve. The marginal rate of substitution (MRS) between points A and B is Slices of pizza A (1,5) 5 4+2 1-1 B (2,3) 3 +1 ! C (3,2) 2 -4 D (7,1) 1 Indifference curve 0 1 2 3 4 5 6 7 8 9 10 Cans of Pepsi O 1/2 -2 0-1/2 0 -1 O 1
Given the indifference curve shown to the right: a. What is the marginal rate of substitution...
Given the indifference curve shown to the right:
a. What is the marginal rate of substitution are you move from point F to point G?
b. Would you expect the absolute value of the MRS to be higher lower or the same as you continue to substitute audio CDs for books?
can someone help me Question 1 1 pts The Marginal Rate of Substitution is the slope...
can someone help me
Question 1 1 pts The Marginal Rate of Substitution is the slope of the indifference curve. O True O False
3. An indifference curve is a. the set of all points of consumer equilibrium as the...
3. An indifference curve is a. the set of all points of consumer equilibrium as the consumer's income changes. b. all combinations of goods X and Y that yield the same total utility. c. all combinations of goods X and Y that yield the same marginal utility. d. the set of all goods that the consumer can afford given her income and the prices of the goods. 4. Which of the following is NOT a property of an indifference curve?...
. Given that the slope of an indifference curve at any point is the “marginal rate...
. Given that the slope of an indifference curve at any point is the “marginal rate of substitution” between Y and X explain/prove that MRS is equal to the ratio of the consumer’s marginal evaluation of good X to his/her marginal evaluation of good Y (i.e. MRS = -MUx/MUy). (2 pts)
Please help with these questions Question 1 0.8 pts Marginal utility O occurs when a consumer...
Please help with these questions
Question 1 0.8 pts Marginal utility O occurs when a consumer buys more of a good as a result of a relative price change O occurs when total utility declines as consumption increases. O occurs when there is a change in purchasing power as a result of a change in the price of a good. O is the additional satisfaction derived from consuming one more unit of a good or service. is the combination of...
Please help with these questions Question 16 0.8 pts The combinations that a consumer can afford...
Please help with these questions
Question 16 0.8 pts The combinations that a consumer can afford line, and the area underneath, contain all of the possible indifference 0 redaction O Maginot O optimization O budget constraint Question 17 0.8 pts Since two goods are subject to diminishing marginal utility, the marginal rate of substitution is O always increasing O variant constant. the inverse slope of the indifference curve. O always decreasing. Question 18 0.8 pts Utility is a balance between...
Marginal rate of substitution is _____ a. Increasing because consumer’s indifference curve is bowed outward b....
Marginal rate of substitution is _____ a. Increasing because consumer’s indifference curve is bowed outward b. Diminishing because consumers prefers variety and prefer a balanced consumption c. Increasing because consumers can easily find complementary goods d. Decreasing because consumer’s utility curve is linear
The point where the indifference curve is tangent to the budget line A. is a point...
The point where the indifference curve is tangent to the budget line A. is a point on consumer's demand curve. B. is the best affordable point. C. is where the marginal rate of substitution exceeds the relative price by as much as possible. D. All of the above answers are correct.
2. What's the definition of marginal rate of substitution? What happens to the MRS as you...
2. What's the definition of marginal rate of substitution? What happens to the MRS as you move along a convex indifference curve? A linear indifference curve?
Question 31 2 pts Refer to the following indifference curve. The marginal rate of substitution (MRS) between points A and B is Slices of pizza A (1,5) 5 4+2 1-1 B (2,3) 3 +1 ! C (3,2) 2 -4 D (7,1) 1 Indifference curve 0 1 2 3 4 5 6 7 8 9 10 Cans of Pepsi O 1/2 -2 0-1/2 0 -1 O 1
Given the indifference curve shown to the right:
a. What is the marginal rate of substitution are you move from point F to point G?
b. Would you expect the absolute value of the MRS to be higher lower or the same as you continue to substitute audio CDs for books?
can someone help me
Question 1 1 pts The Marginal Rate of Substitution is the slope of the indifference curve. O True O False
3. An indifference curve is a. the set of all points of consumer equilibrium as the consumer's income changes. b. all combinations of goods X and Y that yield the same total utility. c. all combinations of goods X and Y that yield the same marginal utility. d. the set of all goods that the consumer can afford given her income and the prices of the goods. 4. Which of the following is NOT a property of an indifference curve?...
Please help with these questions
Question 1 0.8 pts Marginal utility O occurs when a consumer buys more of a good as a result of a relative price change O occurs when total utility declines as consumption increases. O occurs when there is a change in purchasing power as a result of a change in the price of a good. O is the additional satisfaction derived from consuming one more unit of a good or service. is the combination of...
Please help with these questions
Question 16 0.8 pts The combinations that a consumer can afford line, and the area underneath, contain all of the possible indifference 0 redaction O Maginot O optimization O budget constraint Question 17 0.8 pts Since two goods are subject to diminishing marginal utility, the marginal rate of substitution is O always increasing O variant constant. the inverse slope of the indifference curve. O always decreasing. Question 18 0.8 pts Utility is a balance between...
2. What's the definition of marginal rate of substitution? What happens to the MRS as you move along a convex indifference curve? A linear indifference curve?
Most questions answered within 3 hours.
-
Cranium, Inc., purchases term papers from an overseas supplier
under a continuous review system. The average...
asked 13 minutes ago -
1- What is the freezing point of pure water (in degrees
Celsius)?
2-
he molar mass...
asked 1 hour ago -
Determine the direction of the force that will act on the charge
in each of the...
asked 1 hour ago -
You purchase your daily coffee at the Chemist’s Coffeehouse and
have a choice of two cups:...
asked 3 hours ago -
Which of the following pairs of chemicals could be used to make
a buffer solution?
A.)...
asked 3 hours ago -
Problem 16-51 Sales
Activity Variance (LO 16-3)Odessa, Inc., reports the following
information concerning operations for the...
asked 4 hours ago -
Pictured on the right are thee point charges Q1 = 18.4 μC, Q2 =
-30.6 μC,...
asked 4 hours ago -
A graduate student is conducting research in psychology and
needs to obtain the IQ scores of...
asked 4 hours ago -
R2.84: There are 2 defective products in a production lot of 10.
An inspector randomly selected...
asked 6 hours ago -
Consider the following equilibrium system: COCl2(g) CO(g) +
Cl2(g) A 10.00 L evacuated flask is filled...
asked 6 hours ago -
1) What are the two distinct steps that one needs to perform
when developing a data...
asked 6 hours ago -
2) Write a C++ program that uses a class called “Degree” to
obtain the trigonometric
values...
asked 7 hours ago