Utility, Microeconomics

Assignment Help:
Lakshani has $5 to spend on pens and pencils. Each pen costs $0.50 and each pencil costs $0.10. She is thinking about buying 6 pens and 20 pencils. The last pen would add five times as much to her total utility as the last pencil.

Related Discussions:- Utility

Exchange rate, how to calculate the volume of exports? or what is the defin...

how to calculate the volume of exports? or what is the definition?

Micro , We couldn''t find "Bob sold 50 fans at $20 a piece last month. This...

We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans

Van der Waal''s Equation , Deviation from ideal gas behavior The Van der Wa...

Deviation from ideal gas behavior The Van der Waal''s Equation This is observed, deviations from gas laws are high under high pressures & low temperatures. The Van der Waal suggest

Market structures, implications of market structures on price determination...

implications of market structures on price determination

Non-existence of objective probability distributions, Non-existence of Obje...

Non-existence of Objective Probability Distributions :   Let us see why expectations are volatile in nature? According to Keynes (1936, pp. 149): "Our knowledge of the fact

Define the concept of opportunity cost, 1. Define the concept of opportunit...

1. Define the concept of opportunity cost in your own words. Given an example from your own life of the opportunity cost of a decision (do NOT use classroom examples).  Explain why

Iso cost, schedule and diagram of iso cost

schedule and diagram of iso cost

Write Your Message!

Captcha
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