🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
10
answers
0
watching
884
views
20 Mar 2018

27. If the marginal utilities from two goods are not equal, then the consumer A) cannot be in equilibrium. B) should increase consumption of the good with the lower marginal utility. C) should decrease consumption of the good with the lower marginal utility. D) may possibly be in equilibrium. E) will definitely be in equilibrium.

word_media_image1.jpeg
Watch
10
answers
0
watching
884
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Jamar Ferry
Jamar FerryLv2
22 Mar 2018
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

13) 13) If the price of a good falls, then in the new consumer equilibrium A) the marginal utility from consuming the good will be higher than before. B) the quantity of the good consumed decreases. C) the marginal utility from substitutes will be lower than before the fall in price. D) the quantity of substitutes consumed increases. E) none of the above

14) 14) Beverly is currently in consumer equilibrium. An increase in her income A) increases her consumption of all goods. B) decreases her total utility. C) increases her total utility. D) increases her marginal utility from all goods. E) decreases her marginal utility from all goods.

1. To increase marginal utility, you must decrease consumption (everything else held constant). This statement is correct, even though it sounds strange. Explain why.

2. Suppose that the marginal utility of good A is 4 times the marginal utility of good B, but the price of good A is only 2 times the price of good B. Is this point consumer equilibrium? If not, what will occur?

3.What is the purpose of the two fields of study, neuroeconomics and behavioral economics? Why might people tend to be overconfident?

Related Documents

ECO 1304 Chapter Notes - Chapter 6: Ceteris Paribus, French Fries, Marginal Cost
greygrasshopper518
ECO101H1 Lecture 9: Lecture 9-Beneath the Demand and Total Revenue
copperclam445
ECO100Y5 Chapter Notes - Chapter 6: Marginal Utility, Indifference Curve, Opportunity Cost
aquamarinemallard749

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in