Consumer spends more time searching for good

Assignment Help Business Economics
Reference no: EM13859496

A consumer spends more time searching for a good when her reservation price is:

increased.

reduced.

fixed.

None of the statements is correct.

Reference no: EM13859496

Questions Cloud

Pricing strategies-special cost and demand structures : Which of the following pricing strategies is NOT used in markets with special cost and demand structures?
Agreement to offer personal services : A person signs an agreement to offer personal services over a period of five years. The company that hires him, offered to pay him an advance of $30,000 for his professional services at the moment of signing the contract and five additional payments ..
Which pricing strategy is the management using : Snow peak Ski Resort offers a price for a lift ticket that is barely over its marginal cost, but the high equipment rental fee keeps generating big profits. Which pricing strategy is the management using?
Risk-neutral individual : A risk-neutral individual would:
Consumer spends more time searching for good : A consumer spends more time searching for a good when her reservation price is:
Sums up the anti-evolutionists position : After reviewing the Scopes Trial Website, which document/argument do you believe best sums up the anti-evolutionists' position? Which document/argument do you believe best sums up the evolutionists' position? How does each side see the other?
Consider market where supply and demand : Consider a market where supply and demand are given by QXS = -16 + PX and QXd = 83 - 2PX. Suppose the government imposes a price floor of $36, and agrees to purchase any and all units consumers do not buy at the floor price of $36 per unit
Budget constraint-indifference curves-optimal consumption : Suppose a caffeine-deprived man needs to wake up. Suppose his preferences on a day can be described by U=3*coffee+2*tea. If the price of coffee is $4 and the price of tea is $1. He has $12 to spend on these drinks on a day. Show his budget constraint..
Daily budget constraint without any program participation : Suppose a single parent can work up to 16 hours per day at a wage rate of $10.00 per hour. Various incomes maintenance programs have been developed to assure a minimum level of income for low-income families, such as Aid to Families with Dependent Ch..

Reviews

Write a Review

Business Economics Questions & Answers

  Explain what will happen to the capital-labor ratio

You are tasked with manufacturing 12 commercial aircraft per month. A new OSHA rule requires that welders be given paid 2 hour break for every 2 hours of work to prevent carpel tunnel syndrome. Using the isoquant-isocost graph as an aid, explain what..

  How market equilibrium price of oranges is determine

Assuming oranges operate in a perfectly competitive market, use a well-labeled demand and supply model to explain how market equilibrium price of oranges is determined.

  Drawbacks of having a health program

What are the benefits and drawbacks of having a health program that varies by state versus having one that is uniform across the country? Do you find that the positives of state flexibility outweigh the negative or vice versa? Is it fair that similar..

  The curve that shows quantities of total real output

The curve that shows quantities of total real output that will be offered for sale at various price levels is called the

  Total costs to city of not charging residents for garbage

The local government does not directly charge their residents for collecting garbage. However, the city faces increasing marginal costs of MC=1+0.7Q per ton. Residents' market benefit for garbage is MB=250-1.4Q per ton. What are the total costs to th..

  Illustrate which country has the most equal distribution

Using this information, draw a Lorenz curve for each country. Remember to convert the above table into a cumulative %. Illustrate which country has the most equal distribution of income.

  What happens to the quantity of tickets

What happens to the quantity of tickets that people are willing to buy and the government bans the aftermarket sale of super bowl tickets would this act as a price ceiling?

  Flexible exchange rate regime in open macroeconomic model

suppose the domestic and foreign interest rates are both initially equal to 4%. Now suppose the foreign interest rate rises to 6%. Explain what effect this will have on the exchange rate. Also explain what must occur for the interest parity condition..

  Q1 suppose you have 7000 in savings when the price index is

q1. suppose you have 7000 in savings when the price index is at 100. if inflation pushes the price level up 10 what

  Basis of a rate of return analysis

A mechanical engineer is considering two robots for improving materials handling in the production of rigid shaft couplings that mate dissimilar drive components. Robot X has a first cost of $84,000, an annual maintenance and operation (M&O) cost of ..

  Honda accord owners are fiercely loyal to their auto choice

honda accord owners are fiercely loyal to their auto choice. while interviewed by representatives of honda number one

  Decided to reduce consumption and increase investment

Suppose that society decided to reduce consumption and increase investment. How would this change affect economic growth? What groups in society would benefit from this change?

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!

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