Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

You participate in a taste test for a new protein supplement called "Boost." You are given five consecutive one ounce vials of the supplement and after consuming each vial you are asked to note your reaction. You consume the first vial and your response is: "Hmmm, quite good!" After the second, you say, "Not bad at all." After the third, you note, "It's alright." and after the fourth you wince, "No more, the after-taste is getting to me. I need water." What economic principle does this scenario illustrate? Define the principle.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91231990

Have any Question?


Related Questions in Microeconomics

Question use orthodox economic theory to explain the

Question: Use orthodox economic theory to explain the problem of global warming (climate change) and suggest policy solutions. What is the unique problem of such global environmental problems? What is the political econo ...

Question in the corporate world the shareholders are the

Question: In the corporate world, the shareholders are the owners and they hire managers to run the firm. How does the fact that while the military is much more hierarchical than the corporate world, the people making th ...

Question according to many sources such as the us census

Question: According to many sources, such as the U.S. Census Bureau, Global Issues, and the Joint Center for Poverty Research, the United States has a widening gap between the rich and the poor. Some say that such measur ...

Question what is the maximum amount you would pay for an

Question: What is the maximum amount you would pay for an asset that generates an income of $10,000 at the end of each of the three years of the opportunity cost of using funds is 3.5 percent? The response must be typed, ...

Question i own a business that burns a million dollars a

Question: I own a business that burns a million dollars a year of some fuel, and I cannot easily pass on increases in its price to my customers. Therefore, I trade futures and options to protect myself against increases. ...

Question suppose that the marginal utility of apples is 5a

Question: Suppose that the marginal utility of apples is 5A, where A is the number of apples consumed, i.e. MUA = 5A, and MU = 3B is the marginal utility of bananas. Find the marginal rate of substitution of apples B for ...

Question define and draw the utility possibility frontier

Question: Define and draw the utility possibility frontier. In your picture explain what is meant by pareto efficient. Social welfare functions can be used to pick out a point on the utility possibility frontier. Show th ...

Question suppose that iny 2 ilondon 6 xa -1 and rp 2

Question: Suppose that i_NY = 2%, i_London = 6%, xa = -1%, and RP = 2%, where i_NY (i_London) denotes the interest rate in New York (London), xa denotes the expected appreciation of the foreign currency (i.e., the pound) ...

Question write a literature review of a research topic the

Question: Write a literature review of a research topic. The paper should include a review of research located from electronic database searches, a critical review of relevant literature, and a summary of the findings wr ...

Question what is the present value of an investment that

Question: What is the present value of an investment that could make 10% per year interest over 5 years, and would be worth $59,000 after 5 years? The response must be typed, single spaced, must be in times new roman fon ...

  • 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