Suppose that Ms. Thomson is currently exhausting her money income by purchasing 10 units of A and 8 units of B at prices of $2 and $4, respectively. The marginal utility of the last units of A and B are 16 and 24, respectively. These data suggest that Ms. Thomsona. has preferences that are at odds with the principle of diminishing marginal utility.
b. considers a and b to be complementary goods.
c. should buy less a and more b.
d. should buy less b and more a.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose that Ms. Thomson is currently exhausting her money income by purchasing 10 units of A and 8 units of B at prices of $2 and $4, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A nonprofit organization is A. a publicly owned organization that serves the general population. B. a privately owned organization that serves its customers to earn a profit so that it can survive. C.
Answers (1)
The following data is available for Sampson Corporation. Sampson Corporation Accounts Item Amount Net income $200,000 Depreciation expense 60,000 Dividends paid 90,000 Loss on sale of land 15,000 Decrease in accounts receivable 30,000 Decrease in
Answers (1)
Sweet, Inc. issued a $140,000, 4-year, 12% note at face value to Flint Hills Bank on January 1, 2017, and received $140,000 cash. The note requires annual interest payments each December 31. Required: Prepare Coldwell's journal entry record: a.
Answers (1)
18. Callon Industries has projected sales of 67,000 machines for 2012. The estimated January 1, 2012, inventory is 6,000 units, and the desired December 31, 2012, inventory is 15,000 units. What is the budgeted production (in units) for 2012?
Answers (1)
One change that seth mentions is the plantbottle. another is using grape juice instead of sugar to sweeten drinks. what is true about these changes?
Answers (1)
New Questions in Business
Menu costs refers to a. the distortion in incentives created by inflation when taxes do not adjust for inflation. b. resources used by people to maintain lower money holdings when inflation is high. c.
Answers (1)
Consider once again the project with the cash flows described below. Determine whether this is a simple or non - simple investment AND how many possible values of i * exist using the Accumulated Cash Flow Sign Test.
Answers (1)
Which of the following goods best fit the characteristics of a private good? a. national defense b. fire protection c. an ice-cream cone d. a professor giving a lecture in a large classroom e. disease prevention
Answers (1)
Zwick Company bought 26,500 shares of the voting common stock of Handy Corporation in January 2018. In December, Handy announced $ 205,200 net income for 2018 and declared and paid a cash dividend of $ 6 per share on all 203,000 shares of its
Answers (1)
Movie studios use market research to reduce their risk of losses by hiring firms such as the National Research Group to conduct test screenings and tracking studies.
Answers (1)