ZuoTi.Pro
Question

30. In a move to free the economy from unnecessary regulation, Congress decides to remove sugar price supports. What would most likely happen to the number of producers of sugar? a. It would decrease, because sugar prices would fall b. It would decrease, because sugar prices would rise. c. It would increase, because sugar prices would fal. d. It would increase, because sugar prices would rise. A bottle of wine costs $8 and a quiche, S5. At Roberts present levels of consumption, he spends all his income and receives marginal utility of $10 from the last bottle of wine and marginal utility of $4 from the last quiche. To maximize his total utility, Robert should a. buy less wine and more quiche b. buy more wine and less quiche. c. spend all of his money on wine. d. spend all of his money on quiche 31. 32. Elaine values the utility of her first cup of coffee at S1; a second cup, $.75, and a third cup, s.s0. If Elaine drinks three cups of coffee for breakfast, her total utility (maximum satisfaction) is equal to a. $.50, the value of her last cup of coffee. b. $1.00, the value of her first cup of coffee. c. marginal utility. d. $2.25
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Request Professional Answer

Request Answer!

We need at least 10 more requests to produce the answer.

0 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)

All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer to:
30. In a move to free the economy from unnecessary regulation, Congress decides to remove sugar...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Similar Homework Help Questions

  • Juanita enjoys consuming both soda and coffee. Each can of soda costs Ps - $1, and...

    Juanita enjoys consuming both soda and coffee. Each can of soda costs Ps - $1, and each cup of coffee costs Po-$2. Suppose that Juanita buys 30 cans of soda and 20 cups of coffee per week. The following graphs show her marginal utility curves for soda and coffee. At her current consumption level, Santa's marginal utility from consuming the last can of soda she bought is MUs - 12 utils per can, and her marginal utility from consuming the...

  • 1. Coffee costs $1.50 per cup, a cookie costs $0.75 Kris decides to spend all her...

    1. Coffee costs $1.50 per cup, a cookie costs $0.75 Kris decides to spend all her money on these items. The last cup of coffee yields MU of 25 units, the last cookie yields MU of 5 units. Given this information Kris should: a. buy more coffee and fewer cookies b. buy less coffee and more cookies c.not change her consumption of coffee and cookies. d. buy more coffee and more cookies. 2. Using the data below, we can determine...

  • MwSt Saleso... Download Loc 1. The change in total satisfaction that experiences from consuming one more unit of a g...

    MwSt Saleso... Download Loc 1. The change in total satisfaction that experiences from consuming one more unit of a good is called Open with a. total utility. C. elasticity. b. marginal utility d. diminishing utility. is called 2. As more Big Macs are consumed each day, the marginal utility that a person gets from each additional Big Mac tends to a. rise at a steady rate. b. decrease. c. remain constant. d. accelerate. 3. Suppose a consumer wants to obtain...

  • Suppose Basil is maximizing his utility from consuming tea and crumpets. If the marginal utility of...

    Suppose Basil is maximizing his utility from consuming tea and crumpets. If the marginal utility of the last cup of tea was 24 units of utility and that of his last crumpet was 6 units of utility, which of the following is true? The price of tea is six times the price of crumpets The price of crumpets is four times the price of tea The price of tea and crumpets are equal The price of tea is four times...

  • FART I TRUE FALSE QUESTIONS (10 points). Please write True (1) or False (F) on the...

    FART I TRUE FALSE QUESTIONS (10 points). Please write True (1) or False (F) on the blank Scarcity is the intimited nature of society's resources given society's limited wants 2. A reward is a type of positive incentive. 3. To remove difficulty of double coincidence of wants we use money. 4. An exogenous factor is a variable that can be controlled for inside the model. 5. The PPF will not have a constant slope. 6. The law of demand states...

  • 1. Sketch indifference curves for each of the following consumers for a day’s worth of coffee...

    1. Sketch indifference curves for each of the following consumers for a day’s worth of coffee and food, and describe why the indifference curves take the shape they do. Draw the indifference curves as how they would look if the drank a range of 0 to 4 cups. a. Ron treats coffee and food as ordinary goods, but is neutral to coffee beyond 3 cups. b. For Gareth, food is always an ordinary good where more is better; however, coffee...

  • Quick intuition check via True or False Questions 1. 2. If all prices double and income...

    Quick intuition check via True or False Questions 1. 2. If all prices double and income triples, then the budget line will become steeper There are two goods. You know how much of good 1 a consumer can afford if she spends all of her income on good 1. If you knew the ratio of the prices of the two goods, then you could draw the consumer's budget line without any more information. lf good l is on the horizontal...

  • Question 1: A recent study found that the demand and supply schedules for Frisbees are as...

    Question 1: A recent study found that the demand and supply schedules for Frisbees are as follows: Price per Frisbee Quantity Demanded Quantity Supplied $11 1 million 15 million 10 2 12 9 4 9 8 6 6 7 8 3 6 10 1 a) What are the equilibrium price and quantity of Frisbees? b) Frisbees manufacturers persuade the government that Frisbees production improves scientists, understanding of aerodynamics and thus is important for national security. A concerned Parliament votes to...

  • 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...

  • Interest earn on another interest is called?                 a. Simple interest                   b. M

    Interest earn on another interest is called?                 a. Simple interest                   b. Multiple interests                 c. Compound interest                 d. All of the above The lump sum of future value of money to be received today is termed                a. Future value                b. Present value                c. Compound value                d. Simple value Sarah’s boyfriend requested that they should go out to the movies, but she had a mid-semester test...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT