User Account

All Pages

Consume more novels-fewer CDs or more CDs and fewer novels

Assignment Help Business Economics
Reference no: EM13896936

Suppose that Parvez, a pharmacology student is spending $120 budget on paperback novels and used CD's. For novels, MU/P = 5 ; for CD's, MU/P = 4.

A. Is he maximizing his utility? Why yes, why not? Explain

B. If not should he consume more novels and fewer CD's or more CD's and fewer novels? Explain briefly

Reference no: EM13896936

Questions Cloud

What elements define value for customers of romulus plant : What elements define value for the customers of the Romulus plant? What is the role of logistics and logistics consider-ations in the success of the Romulus plant?
Identify the legal issues that are pertinent to the case : Imagine you are an HR consultant to the organization involved in this situation. The organization wants to be responsive and fair. How would you handle the staff that are upset and what would you recommend to senior leaders?
Describe the basic elements involved in sexual harassment : What are the psychological warning signs that often precede workplace violence? Explain each sign in full, with examples. What can an employer do to prevent workplace violence? Set up a mock preventative plan of action, with steps and documentatio..
Roles of ethics and social responsibilities in business : Discuss the roles of ethics and social responsibilities in business
Consume more novels-fewer CDs or more CDs and fewer novels : Suppose that Parvez, a pharmacology student is spending $120 budget on paperback novels and used CD's. For novels, MU/P = 5 ; for CD's, MU/P = 4. Is he maximizing his utility? Why yes, why not? Explain. If not should he consume more novels and fewer ..
Social media content platform deep dive : Social Media Content Platform Deep Dive, Analyze your experiences and compile your recommendations on how to best use this platform that you think will be relevant to others as well
Determine whether each company showed a profit : What is the probability that either of the company shows profit - which residents are most happy about where they are actually living? Explain.
Detail expectations for supplier performance reporting : Detail expectations for supplier performance reporting.
How do these laws impact unionized employers and employees : With this as the landscape and backdrop, do you think there is a "war on unions" by politicians? What is right-to-work and how do these laws impact unionized employers and employees?

Reviews

Write a Review

Business Economics Questions & Answers

  Explain precisely how model illustrates dynamic instability

Describe the Harrod-Domar growth model, and explain precisely how the model illustrates dynamic instability. Why is it often called the knife’s edge model?

  Advantage of specialization-trade in international economics

Explain the advantages of specialization and trade in international economics. Explain how economic growth and international trade increase possibilities.

  Calculate marginal utility associated with each unit of good

A consumer is deciding how many cups of coffee and how many bus tickets to purchase. The price of a bus ticket is $1.50 and the price of a cup of coffee is $2. The following table describes the total utility derived from the two goods. Calculate the ..

  About air safety cause travelers to shy away from air travel

Using diagrams show what changes in price and quantity would be expected in the following markets under the scenarios given: Crude oil: As petroleum reserves decrease, it becomes more difficult to find and recover crude oil. Hotel rooms in Hawaii: Wo..

  Joint venture

Suppose that firm A and firm B can form a joint venture to pursue either or both of their R&D programs.

  What is the security worth

How much would you be willing to pay for this security if his market interest rate is 6%? Suppose that you have just purchased the security, and suddenly the market interest rate falls to 5%. What is the security worth?

  Qassume a consumer has preferences represented by the

q.assume a consumer has preferences represented by the utility function uxy minx3y. assume px 1 and py 2. draw the

  What are the major causes of currency crises

What are the major causes of currency crises, and how can countries prevent these types of crises? What should be done if a crisis occurs? Use the interest rate parity model of exchange rate determination to explain what policies should be followed d..

  Persuasive in explaining the behavior of political actors

Is elitism or pluralism more persuasive in explaining the behavior of political actors, individuals, and groups of individuals when they interact with government? What core assumption about human beings do both philosophies make to drive their assump..

  Advertising is higher than usual also the consumer price

Help wanted advertising is higher than usual also the consumer price index is up more than expected.Inflation has slowed markedly also the Dow Jones average is at record levels.

  Factors reduces-government involvement in marketplace

Which of the following factors reduces the need for government involvement in the marketplace?

  Economists frequently point out that factor movements

Economists frequently point out that factor movements between two countries can be a substitute for goods movements between the countries in terms of the impact on relative factor prices in the countries. Explain why the two types of movements can be..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd