If an indifference curve is a vertical line, does the amount of the good on the y-axis
Question:
If an indifference curve is a vertical line, does the amount of the good on the y-axis influence the consumer's utility?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
Here marginal rate of subsitution is zero or undefined A vertical indifference curv...View the full answer
Answered By
Morgan Njeri
Very Versatile especially in expressing Ideas in writings.
Passionate on my technical knowledge delivery.
Able to multitask and able to perform under pressure by handling multiple challenges that require time sensitive solution.
Writting articles and video editing.
Revise written materials to meet personal standards and satisfy clients demand.
Help Online Students with their course work.
4.90+
12+ Reviews
38+ 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...
-
In this chapter, we showed an example in which the consumer has preferences for consumption with the perfect complements property. Suppose, alternatively, that leisure and consumption goods are...
-
Multiple Choice Questions: 1. Total fixed costs a. Do not vary with the level of output. b. Cannot be avoided in the short run without going out of business. c. do not exist in the long run. d. Are...
-
If Jody's records show $2,000 in investment by owner, $10,000 in net income, $5,000 in assets and $1,000 in owner's drawings. What is Jody's ending owner's equity on a statement of changes in owner's...
-
On January 1, 2018, Advanced Airline purchased a used airplane at a cost of $60,500,000. Advanced Airline expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual...
-
Recognize the importance of internal, social, and organizational factors associated with motivation in organizations. LO.1
-
Define what a methodology is and the role it serves. AppendixLO1
-
Harper Engine Company needs $631,000 to take a cash discount of 2.5/20, net 75. A banker will loan the money for 55 days at an interest cost of $13,300. a. What is the effective rate on the bank...
-
The case study states that an amount for goodwill was included in the sales contract. How is this amount reported on the tax return? As income in Part I of Schedule C . As a long - term capital gain...
-
The chart shows the number of global corporate bond issues for which Standard & Poor's issued ratings upgrades or downgrades every year from 1981 to 2014. a. What is the trend in the number of...
-
Use these two supply and demand equations to answer the following questions. a. What is the equilibrium price? What is the equilibrium quantity? b. Draw a graph of supply and demand and illustrate...
-
Suppose youre trying to get your friends to go to dinner with you. Which of the following statements is more likely to convince your friends to go out to dinner? Statement 1: The dinner would only...
-
Explain the difference between a confidence interval and a prediction interval. How can a prediction level of 95% be interpreted?
-
Gordon Rivers, the city manager of Saratoga, Florida, pitched the proposed design schedule back at Jay Andrews. Jay Andrews is the project manager for Major Design Corporation (MDC). The city of...
-
Use the data from SE3-8 to prepare the closing entries for The Decade Company. Close the temporary accounts straight to retained earnings. The balance of \(\$ 8,500\) in the retained earnings account...
-
Draw a Keynesian cross diagram to show the effects of a rise in autonomous expenditure on an economy operating below full employment output.
-
Governments in many countries are acutely aware of the environmental problems that vehicle emissions can have. Many car manufacturers are exploring the production of electric vehicles, but production...
-
Draw a simple diagram of John Woodens pyramid of success. You can find it at the official Wooden website www.coachwooden.com/index2.html.
-
The altitude h (in m) of a rocket was measured at several positions at a horizontal distance x (in m) from the launch site, shown in the table. Find the least-squares line for has a function of x. x...
-
In the figure, two loudspeakers, separated by a distance of d1 = 2.63 m, are in phase. Assume the amplitudes of the sound from the speakers are approximately the same at the position of a listener,...
-
Suppose certain fireworks are legal in a residential area on the Fourth of July. The fireworks have been approved for safety, but they do cause noise pollution so their use must be limited. Jenny and...
-
Johnston Forest in Rhode Island has a cave that houses thousands of fruit bats. Bat droppings are highly acidic and have ruined the paint on many cars. The flying radius of the Johnston Forest bats...
-
Your neighbor never mows her lawn. You dont have any legal right to force her to mow, but the mess in her front yard is making your neighborhood unsightly and reducing the value of your house. The...
-
Read the following and then answer the questions below:September 12: A Brisbane business offers by letter to sell 500 tyres to a New Zealand company. The Brisbane company does not specify a method of...
-
Fred returns home from work one day to discover his house surrounded by police. His wife is being held hostage and threatened by her captor. Fred pleads with the police to rescue her and offers...
-
Would like you to revisit one of these. Consideration must be clear and measurable.if you can't measure it then how can you show it has / has not been done?How can you sue someone for breach of...
Study smarter with the SolutionInn App