Homework Answers
Answer
In order to maximize utility a consumer consumes that quantity at which Marginal utility/ price of each good is equal.
Marginal utility/Price of brownies = 30/9 = 3.33
Marginal utility/Price of milk = 15/3 = 5
Thus, Marginal utility/Price of milk > Marginal utility/Price of brownies.
According to law of diminishing marginal utility, as consumer consumes more units, additional utility derived from additional unit must decline
Here in order to maximize, he wants Marginal utility of milk to decrease and Marginal utility of brownies to increase. According to law of diminishing marginal utility, he should consume more of milk and less of brownies.
Hence, the correct answer is (A) Teri should buy fewer brownies and more milk.
Add Answer to:
please answer ASAP
Concept Question 2.4 Que Teri is currently spending all of her weekly income...
please write an explanation or steps if involved, thank you! PT MUM 2. Rinzin spends all...
please write an explanation or steps if involved, thank you!
PT MUM 2. Rinzin spends all of her income on two goods potatoes (T) and meat (M). She currently consumes a bundle that exhausts her income, and where IT > 1 She should a. Not change her consumption of potatoes and meat b. Buy less potatoes and more meat C. Buy more potatoes and more meat d. Buy more potatoes and less meat e. Buy less potatoes and less rice...
Is Alyssa currently maximizing her utility? 0 O No; she could buy less fruit and more...
Is Alyssa currently maximizing her utility? 0 O No; she could buy less fruit and more cheese, not spend any more money, and be better off. 0 O Yes; the marginal utility she receives from her last pound of cheese equals that of her last pound of fruit. 0 O No; she likes fruit and cheese more than other goods, so she should buy more of both. No; she could buy more fruit and less cheese, not spend any more...
QUESTION 7 Katie has typically shaped indifference curves and is currently spending all of her income...
QUESTION 7 Katie has typically shaped indifference curves and is currently spending all of her income on jeans and sweaters. The marginal utility of the last pair of jeans was 25 and the marginal utility of the last sweater was 40. If jeans cost $30 and sweaters cost $50, then to maximize utility, Katie should: a. consume more sweaters and fewer jeans b. consumer more jeans and fewer sweaters c. Consume all sweaters as this is a corner solution. d....
Please answer all the questions QUESTION 43 (2008) Which of the following is likely to INCREASE...
Please answer all the questions
QUESTION 43 (2008) Which of the following is likely to INCREASE the intrusion of schematic knowledge in later recall? a. thinking about how the event unfolded, rather than what it meant b. making an effort to fill in the gaps in one's memories Oc decreasing the retention interval O d. thinking about what was distinctive, rather than typical, about the episode QUESTION 44 (Q002) In a basic recall task, participants read a story about a...
please help me to check if all my answe are correct, thank you. QUESTION 1 BC...
please help me to check if all my answe are correct, thank you.
QUESTION 1 BC is a healthy 24 month old little girl. Her vaccination record: Hepatitis B - received injections at birth, 2 months, and 15 months Rotavirus- received at 3 months DTP-received injections at 2 mos, 4 mos, and 7 mos Hib-received injections at 2 mos, 4 mos, 8 mos, and 18 mos PCV13- received injections at 2 mos, 4 mos, 8 mos, and 18 mos IPV-received...
Question 9 1 pts Logan Roy is spending all his money income by buying mineral water...
Question 9 1 pts Logan Roy is spending all his money income by buying mineral water and popcorn. At his current consumption level, the marginal utility of mineral water is 70 and the marginal utility of popcorn is 60. The price of a bottle of mineral water is $2.00 and the price of a box of popcorn is $1.50. The utility-maximizing rule suggests that Logan should: O Increase consumption of popcorn and increase consumption of mineral water Decrease consumption of...
please answer question 1 and 3 and show all work b. Assume that John and Mary...
please answer question 1 and 3 and show all work
b. Assume that John and Mary in part a. (If the amount you determined is less than assume an armount of $200,000.) Twenty years later, John decades S20000 a determined in parr echae a whole life policy on John's life in the doesn't want to make any more premium payments. Which non-forfeiture option you recommend? Explain your selection. C Assume that John and Mary purchase a whole life policy on...
quirements nt 1. Calculate the customer-level operating income for each customer (Complete all answer boxes. Enter...
quirements nt 1. Calculate the customer-level operating income for each customer (Complete all answer boxes. Enter a "O" for any zero balances. Use parentheses or a ml erating losses.) More Info product rofit mer-level Istomer org ustomer fint ush order 1. Customer orders. The salespeople, designers, and jewelry makers spend time with the customer. The cost driver rate is $35 per hour spent with a customer 2. Customer fittings. Before the jewelry piece is completed, the customer may come in...
Can you answer these questions? 11. Suppose that MUr/Pr exceeds MUyl/Py. To maximize utility the consumer who is spending all her money income should buy A. less of X only if its price ris...
Can you answer these questions?
11. Suppose that MUr/Pr exceeds MUyl/Py. To maximize utility the consumer who is spending all her money income should buy A. less of X only if its price rises. B. more of Y only if its price rises. C. more of Y and less of X. D. more of X and less of Y 12. In purchasing products A and B, a consumer is in equilibrium when: 13. The diamond-water paradox atises because: A. essential...
Question 21 According to Internet security experts, approximately 90% of all e-mail messages are spam (unsolicited...
Question 21 According to Internet security experts, approximately 90% of all e-mail messages are spam (unsolicited commercial e-mail), while the remaining 10% are legitimate. A system administrator wishes to see if the same percentages hold true for the e-mail traffic on her servers. She randomly selects e-mail messages and checks to see whether or not each one is legitimate. (Unless otherwise specified, round all probabilities below to four decimal places; i.e. your answer should look like 0.1234, not 0.1234444 or...
please write an explanation or steps if involved, thank you!
PT MUM 2. Rinzin spends all of her income on two goods potatoes (T) and meat (M). She currently consumes a bundle that exhausts her income, and where IT > 1 She should a. Not change her consumption of potatoes and meat b. Buy less potatoes and more meat C. Buy more potatoes and more meat d. Buy more potatoes and less meat e. Buy less potatoes and less rice...
Is Alyssa currently maximizing her utility? 0 O No; she could buy less fruit and more cheese, not spend any more money, and be better off. 0 O Yes; the marginal utility she receives from her last pound of cheese equals that of her last pound of fruit. 0 O No; she likes fruit and cheese more than other goods, so she should buy more of both. No; she could buy more fruit and less cheese, not spend any more...
Please answer all the questions
QUESTION 43 (2008) Which of the following is likely to INCREASE the intrusion of schematic knowledge in later recall? a. thinking about how the event unfolded, rather than what it meant b. making an effort to fill in the gaps in one's memories Oc decreasing the retention interval O d. thinking about what was distinctive, rather than typical, about the episode QUESTION 44 (Q002) In a basic recall task, participants read a story about a...
please help me to check if all my answe are correct, thank you.
QUESTION 1 BC is a healthy 24 month old little girl. Her vaccination record: Hepatitis B - received injections at birth, 2 months, and 15 months Rotavirus- received at 3 months DTP-received injections at 2 mos, 4 mos, and 7 mos Hib-received injections at 2 mos, 4 mos, 8 mos, and 18 mos PCV13- received injections at 2 mos, 4 mos, 8 mos, and 18 mos IPV-received...
Question 9 1 pts Logan Roy is spending all his money income by buying mineral water and popcorn. At his current consumption level, the marginal utility of mineral water is 70 and the marginal utility of popcorn is 60. The price of a bottle of mineral water is $2.00 and the price of a box of popcorn is $1.50. The utility-maximizing rule suggests that Logan should: O Increase consumption of popcorn and increase consumption of mineral water Decrease consumption of...
please answer question 1 and 3 and show all work
b. Assume that John and Mary in part a. (If the amount you determined is less than assume an armount of $200,000.) Twenty years later, John decades S20000 a determined in parr echae a whole life policy on John's life in the doesn't want to make any more premium payments. Which non-forfeiture option you recommend? Explain your selection. C Assume that John and Mary purchase a whole life policy on...
quirements nt 1. Calculate the customer-level operating income for each customer (Complete all answer boxes. Enter a "O" for any zero balances. Use parentheses or a ml erating losses.) More Info product rofit mer-level Istomer org ustomer fint ush order 1. Customer orders. The salespeople, designers, and jewelry makers spend time with the customer. The cost driver rate is $35 per hour spent with a customer 2. Customer fittings. Before the jewelry piece is completed, the customer may come in...
Can you answer these questions?
11. Suppose that MUr/Pr exceeds MUyl/Py. To maximize utility the consumer who is spending all her money income should buy A. less of X only if its price rises. B. more of Y only if its price rises. C. more of Y and less of X. D. more of X and less of Y 12. In purchasing products A and B, a consumer is in equilibrium when: 13. The diamond-water paradox atises because: A. essential...
Question 21 According to Internet security experts, approximately 90% of all e-mail messages are spam (unsolicited commercial e-mail), while the remaining 10% are legitimate. A system administrator wishes to see if the same percentages hold true for the e-mail traffic on her servers. She randomly selects e-mail messages and checks to see whether or not each one is legitimate. (Unless otherwise specified, round all probabilities below to four decimal places; i.e. your answer should look like 0.1234, not 0.1234444 or...
Most questions answered within 3 hours.
-
Find the in-line equilibrium location with respect to two
particles located on the z-axis, the first...
asked 52 seconds from now -
Data from PT Li (in thousand rupiah)
are as follows:
Inventory decrease
90,000
Prepaid expense...
asked 5 minutes ago -
Let X and Y be i.i.d. random variables with finite second
moments. Show that Cov(X+Y, X...
asked 13 minutes ago -
An ANOVA comparing two groups is equivalent to an independent
samples t-test.
True
False
asked 25 minutes ago -
Some supermarkets are using customer tracking technology that
traces the flow of customers
through the shop....
asked 16 minutes ago -
A dock worker applies a constant horizontal force of 75.0 N to a
block of ice...
asked 25 minutes ago -
You are the CEO of a major corporation whose databases were
recently hacked, and sensitive customer...
asked 30 minutes ago -
Amazon is not just a
surviving company of the 1990s tech boom; it is now one...
asked 28 minutes ago -
Q1b. Provide an example of how pricing should interact
with the services offered by the retailer.
asked 56 minutes ago -
a mass weighing 8 pounds when attached to a spring, stretches
it 6 inches.the object is...
asked 1 hour ago -
The following is part of the computer output from a regression
of monthly returns on Waterworks...
asked 1 hour ago -
Bob Katz is purchasing a new Honda Pilot for $35,000. He is
financing $30,000 with a...
asked 1 hour ago