Which piece of information is more important in the utility

Assignment Help Microeconomics
Reference no: EM13316105

Which piece of information is more important in the utility maximization process: marginal utility per unit of the good or marginal utility per dollar? WHY?

Reference no: EM13316105

Questions Cloud

Find the magnitude of induced emf in this solenoid : A solenoid with a cross-sectional area of 1.70*10^-3 is 0.735m long and has 485 turns per meter. Find the magnitude of induced emf in this solenoid
What is the opportunity cost of taking this trip : You plan a major adventure trip for the summer. You won’t be able to take your usual summer job that pays $6,000, and you won’t be able to live at home for free. The cost of your travel
How do you think the higher demand has affected : How do you think the higher demand has affected the equilibrium wage? In which direction do you think the labor supply and demand shifted? Explain your reasoning.
What input current and voltage are needed : A step-up transformer has 24 turns on the primary coil and 780 turns on the secondary coil. what input current and voltage are needed
Which piece of information is more important in the utility : Which piece of information is more important in the utility maximization process: marginal utility per unit of the good or marginal utility per dollar? WHY?
Using a backtracking algorithm : If the backtracking algorithm finds a dead end, it retraces its path until it reaches a position from which there is an untried path. The backtracking algorithm always tries all directions from any position, and always in the same order.
Should it raise prices or lower prices explain : Suppose a pizza parlor is interested in increasing total revenue by adjusting its price. Should it raise prices or lower prices? Explain giving concrete examples.
What could be the main motives for marriott : Identify several major categories of segmentation used by Marriott. For each relate specific examples of hotel services tailored to various target n www.marriott.com offers a brief description of 13 brands of various Marriott hotels catering differ..
Find how long does it take for the grinding wheel to stop : An electric motor rotating a workshop grinding wheel at a rate of 9.80x10^1 rev/min is switched off. how long does it take for the grinding wheel to stop

Reviews

Write a Review

Microeconomics Questions & Answers

  A firm determines its marginal revenue

Economics is profitable for a firm to continue employing additional resources?

  State the law of diminishing marginal utility

produce the product at the lowest variable cost and sell as many as you can at the highest acceptable price. produce the product at the lowest fixed cost and sell as many as you can at highest acceptable price in the marketc. produce the product at ..

  What restriction on the ai is needed for wa

W(sub)a= 1/a1(Y1)+1/a2(Y2)+1/a3(Y3)+1/a4(Y4) where a(i) are the constants. a) What restriction on the ai is needed for Wa to be an unbiased estimator of mu? b) Find the variance of Wa.

  How can edision determine its assets dedicated to two class

Edision Electric Company's president has been arguing that residential electric rates need to be raised relative to industrial rates. His reason is that the rate of return that company earns on its assets is higher from its industrial customers

  How much do u have to invest each year to reach the goal

. Assume the annual interest rate at 8% per year and the investments and withdrawals of funds are made at the end of each year. How much money you will need in this account right after your last deposit How much do u have to invest each year to rea..

  Current public policies favored by william stanley jevons

Critique or defend two (2) of Jevons' views on public policy. Substantiate your position with evidence of the success or failure of current public policies favored by William Stanley Jevons.

  Consumer are spending big time

A HEADLINE article in the text is titled Consumer are Spending Big Time. Determine which of the following is most likely to happens a result of increased consumer spending?

  Compare the use of open market operations

Compare the use of open market operations, loans to financial institutions, and changes in reserve requirements to control the money supply on the basis of the following criteria: flexibility, reversibility, effectiveness, and speed of implementat..

  Suppose that starplex decides to implement third degree

Suppose that Starplex decides to implement third degree price dis-crimination. How many tickets w ll be purchased by college students? What price should Starplex charge college students? [Hint: carry youranswer out to two places past the decimal

  How much do they borrow or lend per period

Find the optimal consumption bundle if m1 = 100, m2 = 88, and r = :2. Is the consumer a borrower or a lender? How much do they borrow or lend per period?

  What topic have you found at the markkula center

What topic or topics of interest have you found at the Markkula Center and can you apply one, two or all three moral theories to the cases?

  Define protectionist policies

Define protectionist policies and describe how the imposed restrictions work and analyze the impact of such policies. Find three public policies framed by the government that have posed restrictions on international trade.

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