Suppose that a budget constraint intersects an indifference curve at two separate points. Can either of these
Question:
Suppose that a budget constraint intersects an indifference curve at two separate points. Can either of these consumption bundles be optimal? Explain why or why not.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 45% (11 reviews)
The optimal consumption bundle occurs where the budget line is tange...View the full answer
Answered By
WAHIDUL HAQUE
hello,
I'm a professional academic solution provider working as a freelance academic solution provider since 7 years. I have completed numerous projects. Help lots of students to get good marks in their exams and quizzes. I can provide any type of academic help to your homework, classwork etc, if you are a student of Accounting, Finance, Economics, Statistics. I believe in satisfying client by my work quality, rather than making one-time profit. I charge reasonable so that we make good long term relationship. why will you choose me? i am an extremely passionate, boldly honest, ethically driven and pro-active contractor that holds each of my clients in high regards throughout all my business relations. in addition, I'll always make sure that I'm giving my 100% better in every work that will be entrusted to me to be able to produce an outcome that will meet my client's standards. so if you are a student that is now reading my profile and considering me for your academic help. please feel free to look through my working history, feedback and contact me if you see or read something that interests you. I appreciate your time and consideration.
regards
4.90+
233+ Reviews
368+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Using Figure 4, explain why the point of tangency of the budget line with an indifference curve is the consumers equilibrium position. Explain why any point where the budget line intersects an...
-
We begin again with Charlie of the apples and bananas. Recall that Charlies utility function is U(x A , x B ) = x A x B . Suppose that the price of apples is 1, the price of bananas is 2, and...
-
Economist Joel Waldfogel may be America's biggest Grinch. He bemoans what he calls the "deadweight loss of Christmas" created when people give gifts (such as ugly sweaters) the recipients would...
-
Sita lived in a village and could, not afford refrigerator in her house. She knew how to keep water cold and preserve all perishable items in her house. She kept ivet cloth surrounding the earthen...
-
Erin O'Neil Associates reported short-term notes payable and salaries payable as follows: During 2018, O'Neil paid off both current liabilities that were left over from 2017, borrowed cash on...
-
Describe the utilitarianism, rights, fairness or justice, common good, and virtue approaches to ethical decision making. What is ethical relativism?
-
Sissy Products currently sells purses for \($250.\) Costs of \($180\) are currently assigned to each handmade purse. The company is introducing a new purse that will be similar in design but they...
-
The account balances of Bryan Company as of June 30, the end of the current fiscal year, are as follows: Required 1. Complete the work sheet. Data for the adjustments are as follows: a. Expired or...
-
Remaining Time: 1 hour, 14 minutes, 41 seconds. Question Completion Status: Solve the right triangles for the unknown sides and angl if necessary. A C a B=24, c 18 OA = 66 a = 16.4 b=73 B
-
On 31 December 20X3, the trial balance of Joytoys showed the following chart of accounts and balances: Additional information 1 The inventory at 31 December 20X3 was valued at £19,500. 2 The...
-
Use the information about price and quantity in Table AP-1 to create a graph, with Price on the y-axis and Quantity on the x-axis. Label the resulting curve Demand. What is the slope of that curve?
-
Use the demand schedule in Table CP-1 to answer the following questions. Use the mid-point method in your calculations. a. What is the price elasticity of demand for a price change from $4 to $8? b....
-
Compute the net pay for each employee using the federal income tax withholding table in Figure 7.2. Assume that FICA OASDI tax is 6.2% on a wage base limit of $117,000, Medicare is 1.45% on all...
-
Write an essay why your doctor should care about social Justice ( In the United States) Healthcare should be the focus with concrete example Please use the following sources in the essay: 1). Artiga,...
-
Use the following references to formulate your answer to the question below: American Hospital Association. (2012). Managing population health: The role of the hospital . Retrieved from...
-
Using Digital Tools to Enhance Your Job Search Just as electronic media have changed the way candidates seek jobs, these same digital tools are transforming the way employers select qualified...
-
Gourmet Juices is a company that sells a variety of natural fruit juices. The company has enjoyed record-breaking profits; its products have earned several local and international awards. However,...
-
Determine fundamental approaches to scientific research in addressing questions related to the natural world Develop questions about fundamental aspects of the natural world that inform personal...
-
Refer to the data in Problem 139. The president of Empire Labs Inc. is deeply concerned. Sales increased by $5 million from last year to this year, yet the companys net income increased by only a...
-
Suppose that you could invest in the following projects but have only $30,000 to invest. How would you make your decision and which projects would you invest in? Project Cost $ 8,000 11,000 9,000...
-
Suppose the government is considering taxing cigarettes. Because it is often politically more popular to tax the producers of cigarettes than the consumers of cigarettes, the government first...
-
The market shown in Figure 6P-5 is in equilibrium. Suppose there is a $15 per unit tax levied on sellers. a. Draw the after-tax supply curve. b. Plot the after-tax price paid by consumers and the...
-
The market shown in Figure 6P-5 is in equilibrium. Suppose there is a $15 per unit tax levied on sellers. a. Draw the after-tax supply curve. b. Plot the after-tax price paid by consumers and the...
-
On 1 January 20.1 SA Traders purchased office furniture for R80 000. The financial year-end of SA Traders is 31 December.Calculate the accumulated depreciation for 20.3 by using the reducing-balance...
-
Customs agents are on the lookout for situations where the value of the transaction (invoice value) may not represent the true value of goods being imported. Identify the 3 situations most likely to...
-
Iverson, Inc. has $1,294,000 of sales revenue, $692,000 of variable costs, and $692,000 of fixed costs in 2023. Assuming the contribution margin percentage stays the same in 2024, what will the break...
Study smarter with the SolutionInn App