Suppose an individual has the following marginal value schedule for hamburgers. Quantity 1 2 3 Marginal value

Question:

Suppose an individual has the following marginal value schedule for hamburgers. Quantity 1 2 3 Marginal value $7 6 5 4 4 6 7 8 32-0 0

a. Suppose this consumer is endowed with 7 hamburgers. What is this per- son's supply schedule of hamburgers?

b. How would this supply curve change if the person started with only 5 hamburgers?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 100% (QA)

Answered By

Atuga Nichasius

I am a Highly skilled Online Tutor has a Bachelor’s Degree in Engineering as well as seven years of experience tutoring students in high school, bachelors and post graduate levels. I have a solid understanding of all learning styles as well as using asynchronous online platforms for tutoring needs. I individualise tutoring for students according to content tutoring needs assessments. My strengths include good understanding of all teaching methods and learning styles and I am able to convey material to students in an easy to understand manner. I can also assists students with homework questions and test preparation strategies and I am able to help students in math, gre, business , and statistics I consider myself to have excellent interpersonal and assessment skills with strong teaching presentation verbal and written communication I love tutoring. I love doing it. I find it intrinsically satisfying to see the light come on in a student's eyes. My first math lesson that I taught was when I was 5. My neighbor, still in diapers, kept skipping 4 when counting from 1 to 10. I worked with him until he could get all 10 numbers in a row, and match them up with his fingers. My students drastically improve under my tutelage, generally seeing a two grade level improvement (F to C, C to A, for example), and all of them get a much clearer understanding! I am committed to helping my students get the top grades no matter the cost. I will take extra hours with you, repeat myself a thousand times if I have to and guide you to the best of my ability until you understand the concept that I'm teaching you.

5.00+ 2+ Reviews 10+ Question Solved

Related Book For book-img-for-question