Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 19, 2024

Joe's income is $500, the price of food (F) is $2 per unit, and the price of shelter (S) is $100. Which of the following

Joe's income is $500, the price of food (F) is $2 per unit, and the price of shelter (S) is $100. Which of the following represents his marginal rate of transformation of food for shelter?

A) -5

B) -50

C) -.02

D) None of the above.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Microeconomics

Authors: Hal R. Varian

8th edition

393934241, 978-0393934243

More Books

Students also viewed these Economics questions

Question

★★★★★

Apple and Google compete in several product categories. Sales, income, and asset information are provided for fiscal year 2015 for each company below. $ millions ___________________________ Apple...

Answered: 1 week ago

Question

★★★★★

Cost centers, profit centers, decentralization, transfer prices. Fenster Corporation manufactures windows with wood and metal frames. Fenster has three departments: Glass, Wood, and Metal. The Glass...

Answered: 1 week ago

Question

★★★★★

1. Use some system to make sure you give each student practice in reading, speaking, and answering questions.

Answered: 1 week ago

Question

★★★★★

Which of the following is true about the rental of real estate? a. Depreciation and maintenance expenses for an apartment complex are deductible. b. A vacation home is a home that is rented for 15...

Answered: 1 week ago

Question

★★★★★

Arlington LLC purchased an automobile for $55,000 on July 5, 2021. What is Arlington's depreciation deduction for 2021 if its business-use percentage is 75 percent? (Ignore any possible bonus...

Answered: 1 week ago

Question

★★★★★

ABC Co uses perpetual inventory system and Average Cost Method. The company's information for December 2021 is as follows: December 1- Beginning inventory value is $ 800 in total for 20 units of...

Answered: 1 week ago

Question

★★★★★

Problem 1.1 Find the equivalent stiffness at point A. Answer: 9.20106 N/m Problem 1.2 Consider a stainless-steel metal ruler. Assume it is 12 in long, 1.25 in wide, and 0.018 in thick with an elastic...

Answered: 1 week ago

Question

★★★★★

In half a page, explain how the child protection reporting system operates. In your answer, consider reporting protocols, policies for working with other agencies and how the system responds to...

Answered: 1 week ago

Question

★★★★★

a. What manufacturing data is used by the managerial accounting module within ERP? b. How is this information used to control costs, to maximize productivity, and to streamline operations? c. How...

Answered: 1 week ago

Question

★★★★★

What is Big Data? What are the 3V's of Big Data? What tasks are usually performed in a database marketing campaign? Research three Business Analytics tools. Name and describe them and the features of...

Answered: 1 week ago

Question

★★★★★

(a) Explain briefly any five Methods of Costing. (5) (b) Pleasant Cold Limited manufactured and sold 1,000 refrigerators in the year ending 31st March, 2012. The summarised Trading and Profit and...

Answered: 1 week ago

Question

★★★★★

One adverse impact of increase in government spending in the long-run is that government spending results in a.stagflation b.increase in interest rate and crowding out of private sector. c.higher...

Answered: 1 week ago

Question

★★★★★

1. Imagine that you have already achieved a dream or a goal you have set for yourself. Both the goal and the dream correspond to your basic values. Try to visualize this dream or goal. What do you...

Answered: 1 week ago

Question

★★★★★

4. What means will you use to achieve these values?

Answered: 1 week ago

Question

★★★★★

5. List three of what you would call your core values. For each of these core values, answer the following questions. a. What is the purpose of this value in your life? b. How does this value affect...

Answered: 1 week ago

Previous Question Next Question