Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose Bill is on a low- carbohydrate diet. He can eat only three foods: Rice Krispies, cottage cheese, and popcorn. The marginal utilities for each food are tabulated below. Bill is allowed only 167 grams of carbohydrates daily. Rice Krispies, cottage cheese, and popcorn provide 25, 6, and 10 grams of carbohydrates per cup, respectively. Referring to the accompanying table, respond to the following questions:
Units of food Marginal utility Marginal utility Marginal utility
(cups/day) of Rice Krispies of cottage cheese of popcorn
1 175 72 90
2 150 66 80
3 125 60 70
4 100 54 60
5 75 48 50
6 50 36 40
7 25 30 30
8 25 18 20
a. Given that Bill can consume only 167 grams of carbohydrates daily, how many cups of each food will he consume daily? Show your work.
b. Suppose Bill's doctor tells him to further reduce his carbohydrate intake to 126 grams per day. What combination will he consume?
Find the market price, the quantity produce and the profit of each firm and what is the number of firms in the long run equilibrium?
Describe the factors that may cause economies and diseconomies of scale. Give an example of each. Describe the economic concept of the law of diminishing marginal returns. Please give an example. Why is this important?
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs and between marginal and average variable costs and what best accounts for the saying "Too many cooks spoil the broth?"
Which of the following would shift the aggregate demand curve to the right?
Analyze the meaning of the phrase: "Made in USA" from a historical perspective and the importance (or lack of) it bears across the internationalization and globalization of the modern world. Explain and support your answer.
Why does international trade occur What does it mean to run a deficit in the merchandise trade balance Distinguish between a tariff and a quota. Who benefits from and who is harmed by such restrictions on imports
select a state az or federal us public policy that is of interest to you and is not covered on the syllabus. over the
Automobile manufacturers produce a range of automobiles such as sports utility vehicles, luxury sedans, pickup trucks and compact cars. What fundamental economic question are they addressing by making this range of products.
Antonio, an accountant working for the city of Santa Cristina,decides to forego his annual vacation to Hawaii when word leaks out that the city may be cutting all employees’ salaries by 10 percent at the end of the year
Explain the difference between internal and external stakeholders. How should a project manager prioritize the needs of each group of stakeholders?
Suppose the government decides to place a tax on competitive business profits that would cause businesses to decrease output and generate a deadweight loss. Revenues from the tax would be redsitributed to low-income individuals. The decision to le..
Compute the short run total product, average product of labor and marginal product of labor for all numbers of L between 0 and 7.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd