Is mary maximizing utility

Assignment Help Microeconomics
Reference no: EM131020733

Mary is buying corn chips and soda. She has 4 bags of corn chips and 5 bottles of soda in her shopping cart. The marginal utility of the fourth bag of corn chips is 10, and the marginal utility of the fifth bottle of soda is also 10. Is Mary maximizing utility? Briefly explain.

Reference no: EM131020733

Questions Cloud

Explain the major ethical implications of the study : Briefly summarize the main details of your chosen social psychology research study. Identify the main research method(s) used in the study - Explain whether or not you believe the research methodology that the researchers used in the study was the ..
How much interest on interest did the company earn : Precision Engineering invested $110,000 at 6.5 percent interest, compounded annually for 4 years. How much interest on interest did the company earn over this period of time? The correct answer is $2,911.30, I am using a BA II Plus calculator, can yo..
Multi segment marketing : Multi segment marketing is likely to ____ and ____
What is the future value if payments are ordinary annuity : Suppose you are going to receive $13,300 per year for six years. The appropriate interest rate is 8.2 percent. What is the present value of the payments if they are in the form of an ordinary annuity? What is the present value if the payments are an ..
Is mary maximizing utility : Mary is buying corn chips and soda. She has 4 bags of corn chips and 5 bottles of soda in her shopping cart. The marginal utility of the fourth bag of corn chips is 10, and the marginal utility of the fifth bottle of soda is also 10. Is Mary maxi..
Firewalls can operate at all osi layers except which of them : In which system life cycle phase should security policy be established?
Two annuities have both equal present and future values : You are comparing two annuities that offer quarterly payments of $2,500 for five years and pay .75 percent interest per month. You will purchase one of these today with a single lump sum payment. These two annuities have both equal present and future..
Determining the level of soft drinks to consume : Consider the market for soft drinks. Suppose recent studies show that consumption of soft drinks results in significant health costs to society due to the ingestion of high levels of high fructose corn syrup. Currently consumers of soft drinks do ..
What is the yield to maturity of this bond : A Japanese company has a bond outstanding that sells for 86 percent of its ¥100,000 par value. The bond has a coupon rate of 4.5 percent paid annually and matures in 16 years. What is the yield to maturity of this bond?

Reviews

Write a Review

Microeconomics Questions & Answers

  Describe concept of diminishing marginal utility since all

explain the concept of diminishing marginal utility. since all goods are scarce does diminishing marginal utility

  A college administrator wants to study average age of

a college administrator wants to study the average age of students who drop out of college after only attending one

  Efficient level of a negative externality

Characterize this as an example of a positive or a negative externality and the efficient level of a negative externality is always a positive amount.

  How can central bank discounting cause procyclical movements

How can central bank discounting cause procyclical movements in the money supply? How can the central bank eliminate such a movement? Discuss.

  How might efficiency wages contribute to downward wage

What is an efficiency wage How might payment of an above-market wage reduce shirking by employees and reduce worker turnover How might efficiency wages contribute to downward wage inflexibility, at least for a time, when aggregate demand declines

  Is the utility function monotonic

Obtain price elasticity of demand for good one. Obtain income elasticity of demand for good and find the amount of compensation needed for Hicks compensation

  Describe how the incident was handled in regard

Research an emergency incident of your choice that has occurred in the past twenty years and describe how the incident was handled in regard to incident command.

  As a manager of the wedowell corporation you have

as a manager of the wedowell corporation you have negotiated with several vendors and are on the verge of signing an

  Finding various ratios for a hospital called louisville

An assignment in finding various ratios for a hospital called Louisville Community Hospital for my finance class. One of the ratios that I am trying to find is: "Days Cash On Hand.

  Calculate the labour force participation rate

Calculate the Labour Force Participation Rate for this economy. Report as a percentage to two decimal places. Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.

  Calculate the mad

collect data on sales from any retail store of choosing for the last 10 months or 10 years. Predict the sale for the 11th month or 11th yr using a 3-month moving average and a 4-month moving average. Calculate the MAD for the 3-month or 3yr and 4m..

  What shape did the short-run aggregate supply curve

What shape did the short-run aggregate supply curve have during the 1930s, according to Keynes? Explain

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