Mark consumes only cookies and books. At his current consumption bundle, his marginal utility from books is 6 and from cookies is 5. Each book costs $10.00 and each cookie costs $2.00. Is he maximizing his utility? Explain. If he is not, then how can he increase his utility while keeping his total expenditure constant? Mark is A. not maximizing utility because MRS equals negative StartFraction Upper U Subscript Upper B Over Upper U Subscript Upper C EndFraction less thannegative StartFraction p Subscript Upper B Over p Subscript Upper C EndFraction . B. maximizing utility because MRS equals negative StartFraction Upper U Subscript Upper B Over Upper U Subscript Upper C EndFraction . C. maximizing utility because MRS equals negative StartFraction Upper U Subscript Upper B Over Upper U Subscript Upper C EndFraction equalsnegative StartFraction p Subscript Upper B Over p Subscript Upper C EndFraction . D. not maximizing utility because StartFraction Upper U Subscript Upper B Over p Subscript Upper B EndFraction equalsStartFraction Upper U Subscript Upper C Over p Subscript Upper C EndFraction . E. not maximizing utility because MRS equals negative StartFraction Upper U Subscript Upper B Over Upper U Subscript Upper C EndFraction greater thannegative StartFraction p Subscript Upper B Over p Subscript Upper C EndFraction . Click to select your answer and then click Check Answer.
Answers: 3
Business, 22.06.2019 14:30
If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided
Answers: 1
Business, 22.06.2019 17:30
According to management education expert ashok rao, companies can increase their profitability by through careful inventory management. a. 5% to 10% b. 10% to 25% c. 20% to 50% d. 75%
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Business, 22.06.2019 21:50
Varto company has 9,400 units of its sole product in inventory that it produced last year at a cost of $23 each. this year’s model is superior to last year’s, and the 9,400 units cannot be sold at last year’s regular selling price of $42 each. varto has two alternatives for these items: (1) they can be sold to a wholesaler for $8 each, or (2) they can be reworked at a cost of $251,100 and then sold for $34 each. prepare an analysis to determine whether varto should sell the products as is or rework them and then sell them.
Answers: 2
Business, 22.06.2019 22:20
David consumes two things: gasoline (q 1) and bread (q 2). david's utility function is u(q 1, q 2)equals70q 1 superscript 0.5 baseline q 2 superscript 0.5. let the price of gasoline be p 1, the price of bread be p 2, and income be y. derive david's demand curve for gasoline. david's demand for gasoline is q 1equals nothing. (properly format your expression using the tools in the palette. hover over tools to see keyboard shortcuts. e.g., a subscript can be created with the _ character.)
Answers: 1
Mark consumes only cookies and books. At his current consumption bundle, his marginal utility from b...
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