The book explains a rational consumer as one who will, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics

Basic Economics

Business Economics

International Economics

Managerial Economics

Public Economics

Home >> Microeconomics

The book explains a rational consumer as one who will attempt to obtain the most utility for the money. If a consumer derives 12 units of utility from a $2 hamburger, 5 units of utility from a $.50 candy bar, and 22 units of utility from $7.50 movie ticket, which product is the rational consumer most probable to purchase first assuming she has sufficient income to do so?

1) Hamburger

2) Movie ticket

3) Not enough information

4) Candy Bar

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91223355

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question it appears that in the twenty-first century by far

Question: It appears that in the twenty-first century, by far the biggest increase in Federal spending will occur in increased medical care expenditures for the aged and the poor. If this does indeed turn out to be a pol ...

Question what is an exchange rate system what is the

Question: What is an exchange rate system? What is the difference between a fixed exchange rate system and a managed float exchange rate system? The response must be typed, single spaced, must be in times new roman font ...

Question from the work it out effects of trade barriers you

Question: From the Work It Out "Effects of Trade Barriers," you can see that a tariff raises the price of imports. What is interesting is that the price rises by less than the amount of the tariff. Who pays the rest of t ...

Question in recent years labor costs in korea have been

Question: In recent years, labor costs in Korea have been rising about 10% faster than in the US. To what extent did this contribute to the devaluation of the won in 1997? If this trend continues, would you expect furthe ...

Question currently 1 us dollar is equal to 64 russian

Question: Currently 1 U.S. Dollar is equal to 64 Russian Rubles. The interest rate of the Russian Central Bank is 10%, and the interest rate of the US central bank (FED) is 0.25%. a. According to the interest parity cond ...

Question learn about current trends in servant leadership

Question: Learn about current trends in servant leadership by conducting your own research and locating an article that illustrates how the principles of servant leadership are being employed in the workplace, as part of ...

Question answer all of the bulleted question related to the

Question: Answer all of the bulleted question related to the esay question on the the goverment budget. It's ok to use the outside source for the question, but please cite the source properly. ( write about one or two pa ...

Question in these efforts they build scholarship based on

Question: In these efforts, they build scholarship based on reason, balance, and supporting evidence, although much of this scholarship is based on theory. Discuss how political scientists attempt to quantify data, manip ...

Question unions and productivity in some industries the

Question: Unions and productivity In some industries, the labor productivity of union workers exceeds the labor productivity of nonunion workers. Which of the following might help explain the higher productivity of union ...

Question using the specific factors model ie labor is

Question: Using the Specific Factors Model (i.e. Labor is mobile but Land and Capital are specific to agriculture and manufacturing) what would be the effect of foreign labor immigration on wage rate and the output of bo ...

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

Recent Questions

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