FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Peter usually likes to drink beer on Friday nights but limits himself to 3 bottles because he said drinking more does not bring him additional

Peter usually likes to drink beer on Friday nights but limits himself to 3 bottles because he said drinking more does not bring him additional satisfaction. This implies that: a. His total utility is highest on the 1st bottle b. His marginal utility is negative on the 4th bottle c. His marginal utility is maximum on the 3rd bottle d. All of the others

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Forecasting for Economics and Business

Forecasting for Economics and Business

Authors: Gloria Gonzalez Rivera

1st edition

131474936, 978-1315510415, 1315510413, 978-0131474932

More Books

Students also viewed these Economics questions

Question

★★★★★
When Timmy was 18 months old, his mother stood behind him, helping him throw a large ball into a box. As his skill improved, she stepped back, letting him try on his own. Using Vygotsky's ideas,...

Answered: 1 week ago

Question

★★★★★
List the basic principles of Agile Modeling.

Answered: 1 week ago

Question

★★★★★
Are there professional development opportunities?

Answered: 1 week ago

Question

★★★★★
Sean Browne owns and manages a computer repair service, which had the following trial balance on December 31, 2016 (the end of its fiscal year). Summarized transactions for January 2017 were as...

Answered: 1 week ago

Question

★★★★★
b) You have been hired by a startup company to design, plan, and implement an Ethernet network. There is only one location but with four departments. Each department will have its own subnet. Network...

Answered: 1 week ago

Question

★★★★★
Preferred Snacks produces snack mixes for the gourmet and natural foods market. (Click the icon to view the budgeted quantities and budgeted prices of direct materials.) In the current period,...

Answered: 1 week ago

Question

★★★★★
A merchant obtains the retail price of an item by adding 20% to the wholesale price. Later, he has a sale and marks every item down 20% from the retail price. Is the sale price the same as the...

Answered: 1 week ago

Question

★★★★★
One gallon equals 4 quarts. The following program intends to read a floating-point value from input, convert the value from quarts to gallons, and output the volume in gallons, but the code contains...

Answered: 1 week ago

Question

★★★★★
Cash $ 120,000 Accounts receivable 48,000 Maintenance expense 22,000 Advertising expense 17,360 Fees earned 128,800 Lisa Assaad, Capital, April 1 ? Salaries expense 61,000 Machinery 93,000 Accounts...

Answered: 1 week ago

Question

★★★★★
Question 2 (20 marks) A vertical sag curve 220 m long connects a falling gradient of 5 in 100 and a rising gradient of 3 in 100. The RL and chainage of the gradient intersection point (I) is 90m and...

Answered: 1 week ago

Question

★★★★★
(b) A stock price is currently $100. Over each of the next two six-month periods it is expected to go up by 10% or down by 10%. The risk-free interest rate is 8% per annum with annual compounding...

Answered: 1 week ago

Question

★★★★★
The most common type of logical sequencing between tasks is referred to as the: Select one: a . Start to finish relationship. b . Start to start relationship. c . Finish to start relationship. d ....

Answered: 1 week ago

Question

★★★★★
1. To provide knowledge about various influencing techniques in communication situations.

Answered: 1 week ago

Question

★★★★★
1. Information that is currently accessible (recognition).

Answered: 1 week ago

Question

★★★★★
8. Based on the model in Fig. 10.2 in this chapter, analyse yourself and find out which cell you would place yourself in. Let another person in the group analyse you. Did he/she choose the same cell...

Answered: 1 week ago

Previous Question Next Question