Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Bridget has a limited income and consumes only wine and cheese; her consumption choice is four bottles of wine and 10 pounds of cheese. Wine is $10 per bottle and cheese is $4 per pound. The last bottle of wine added 50 units to Bridget's utility, while the last pound of cheese added 40 units.

a. Is Bridget making the utility-maximizing choice? Why or why not?

b. If not, what should she do instead, why?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M93086199
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Business Economics

An urn contains 5 red and 10 blue balls balls are drawn

An urn contains 5 red and 10 blue balls. Balls are drawn sequentially from urn without replacement. Let X be the number of draws necessary in order to obtain exactly 4 red balls. Find probability mass function of X

1 suppose that the total benefit and total cost from a

1. Suppose that the total benefit and total cost from a continuous activity are, respectively, given by the following equations: B(Q) = 100 + 36Q - 4Q2 and C(Q) = 80 + 12Q. [Note: MB(Q) = 36 - 8Q and MC(Q) = 12.] a. Writ ...

Define economies of scope is this concept related to

Define economies of scope. Is this concept related to economies of scale? Explain. Define economies of scale. How does this relate to returns to scale?

The attractiveness of a country as a market or investment

The attractiveness of a country as a market or investment site depends on balancing the likely long-term benefits of doing business there, against the likely costs and risks. What do you consider are the determinants of ...

Give examples of how dominos has adapted its global

Give examples of how Domino's has adapted its global marketing mix to meet the needs of local consumers. Are you their customer? If so, why?

Compute the cross elasticity of demand and characterize the

Compute the cross elasticity of demand and characterize the goods as complements or substitutes (Please use "Arc Elasticity" to calculate) a. Regular Flu shot offered by pharmacy        Boxes of Tamu Flu sold by pharmacy ...

Autonomous consumptionnbsp 660marginal propensity to

Autonomous consumption  = 660 Marginal propensity to consume  = 0.8 Autonomous taxation  = 200 Income tax rate =  0.2 Planned investment  = 500 Government spending  = 500 Autonomous net exports  = 300 NX  = 0.04 Calculat ...

What do you recommend that a company do to prevent andor

What do you recommend that a company do to prevent and/or solve subscriber uncollectable issues?

When nespresso as a brand took over the world what do you

When Nespresso as a brand 'took over the world' What do you think that happened with coffee sales in HM and SM? Was Nespresso's model of own stores 'killing' the sales of coffee in Hyper and Supermarkets?

There are certain coins that can sometimes have the weight

There are certain coins that can sometimes have the weight that are Normally distributed with a mean of 5.207 g and a standard deviation of 0.053 g. Now, a vending machine is configured to accept those coins with weights ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As