Business, 22.06.2021 05:10 brenna209

Isobel consumes positive quantities of both jam and juice. The price of jam is 10 cents per unit and the price of juice is 5 cents per unit. Her marginal utility of jam is 12 and her marginal utility of juice is 6. A) Without changing her total expenditures, she could increase her utility by consuming more jam and less juice
B) Without changing her total expenditures, she could increase her utility by consuming more juice and less jam
C) Without changing her total expenditures on jam and juice, she could not increase her utility
D) She should spend more money on both jam and juice.
If two goods are perfect substitutes,
A) there is a bliss point and the indifference curves surround this point.
B) straight indifference curves have a negative slope.
C) convex indifference curves have a negative slope.
D) indifference curves have a L-shape.
The consumer is in equilibrium when
A) MRT MRS
B) Px/Py MUx/MUy.
C) the budget line is tangent to the indifference curve at the bundle chosen.
D) All of the above.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 17:00

Which basic economic questions deals with the issue of how the incomeof people in various occupations is determined

Answers: 1

Answer

Business, 22.06.2019 13:20

Last year, johnson mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. the firm paid $700 in dividends and had a tax rate of 35 percent. the firm added $2,810 to retained earnings. the firm had no long-term debt. what was the depreciation expense?

Answers: 2

Answer

Business, 22.06.2019 13:40

Computing equivalent units is especially important for: (a) goods that take a relatively short time to produce, such as plastic bottles. (b) goods with sustainability implications in their production processes. (c) goods that are started and completed during the same period. (d) goods that take a long time to produce, such as airplanes.

Answers: 2

Answer

Business, 22.06.2019 19:40

Last year ann arbor corp had $155,000 of assets, $305,000 of sales, $20,000 of net income, and a debt-to-total-assets ratio of 37.5%. the new cfo believes a new computer program will enable it to reduce costs and thus raise net income to $33,000. assets, sales, and the debt ratio would not be affected. by how much would the cost reduction improve the roe? a. 11.51%b. 12.11%c. 12.75%d. 13.42%e. 14.09%

Answers: 3

Answer

You know the right answer?

Isobel consumes positive quantities of both jam and juice. The price of jam is 10 cents per unit and...

Questions