Melika spends all her income on two goods, magazines and carry-out lunches. The price of a magazine is $5, and the price of a carry-out lunch is $7. At the current consumption bundle, the marginal utility of magazines is 10, and the marginal utility of carry-out lunches is 21. To maximize utility given her income, Melika should: Group of answer choices increase her consumption of carry-out lunches and decrease her consumption of magazines. increase her consumption of magazines and decrease her consumption of carry-out lunches. consume equal amounts of magazines and carry-out lunches. continue to consume the current bundle.
Answers: 3
Business, 21.06.2019 23:30, reddmeans6
Starting at age 30, you deposit $2000 a year into an ira account for retirement. treat the yearly deposits into the account as a continuous income stream. if money in the account earns 7%, compounded continuously, how much will be in the account 35 years later, when you retire at age 65? how much of the final amount is interest?
Answers: 2
Business, 23.06.2019 02:40, emma2827
Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. the seller announced that the highest bid in excess of $9,500 will be accepted. assume that the competitor's bid x is a random variable that is uniformly distributed between $9,500 and $15,500. suppose you bid $12,000. what is the probability that your bid will be accepted?
Answers: 2
Melika spends all her income on two goods, magazines and carry-out lunches. The price of a magazine...
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