Question

In these questions, let's assume that all the people involved have the same income. a) What...

In these questions, let's assume that all the people involved have the same income.

a) What type of people are more likely to eat resturaunt meals? TV dinners? Why?

Note that your answers (and follow-up discussion) MUST be based on the tools of economics covered in this module (meaning utility theory). Remember, everyone, rich and poor, experience positive and negative utility.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Here it is given that all people have same income

so if it is the case of perfect substitute between tv dinner and resturaunt then one with lower price will be consumed

but if this is the case of imperfect substitutes and with more prefrence to tv dinner then it will me more consumed given equal prices and if more prefrence is given to resturaunt meals then it will be more consumed

your question is incomplete the information i mentioned its just a basic and really helpfull

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
In these questions, let's assume that all the people involved have the same income. a) What...
In these questions, let's assume that all the people involved have the same income. a) What type of people are more likely to eat resturaunt meals? TV dinners? Why? b) Why do some people tip? Eat too much? Smoke? c) Why do some people give charilty? Are you more likely to give charity to a down on her luck FIT graduate or a equally poor down on her luck Brooklyn College grad? Why? Note that your answers (and follow-up discussion)...
please If you cant answer the question, dont answer. thats the third time im posting this...
please If you cant answer the question, dont answer. thats the third time im posting this to get the right answer. In these questions, let's assume that all the people involved have the same income. a) What type of people are more likely to eat resturaunt meals? TV dinners? Why? b) Why do some people tip? Eat too much? Smoke? c) Why do some people give charilty? Are you more likely to give charity to a down on her luck...
Explain the complete HAZOP procedure as followed in the industry. See summary below. Explain all the...
Explain the complete HAZOP procedure as followed in the industry. See summary below. Explain all the main parts of HAZOP study in details given in the Pdf file including: 1. Overview (including definitions and usage) 2. Hazop methodology (including phases like definition, preparation, examination, documentation and follow-up). Give examples also 3. Risk review 4. Risk communication Guidance: Study the procedure carefully and then write the answers in your own words. Hazard & Operability Analysis (HAZOP) 1   Overview: Hazard and Operability...
What role could the governance of ethics have played if it had been in existence in...
What role could the governance of ethics have played if it had been in existence in the organization? Assess the leadership of Enron from an ethical perspective. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies, collapsed in 2001 under a mountain of debt...
What are 4 key things you learned about the topic from reading their paper? How does...
What are 4 key things you learned about the topic from reading their paper? How does the topic relate to you and your current or past job? Critique the paper in terms of the organization and quality. Team 3 answer questions above. Part I In today’s world we see fear among people when dealing with sexual harassment. This leads to people not reporting sexual harassment. A misconception about sexual harassment is that it’s only about touching and forcing other people...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
CASE STUDY ON LEADERSHIP/ Aidensfield hospital currently faces major problems with staff, management, general performance and...
CASE STUDY ON LEADERSHIP/ Aidensfield hospital currently faces major problems with staff, management, general performance and service quality. It is conceivable that these problems are related to the ‘leadership’ styles adapted by those in charge. The senior management have proposed some changes within the organisation to hopefully make improvements but making such decisions requires an in-depth understanding of what is going wrong and why. Leadership as a concept is often considered in isolation when in reality, it is coherent with...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president by working to build good work relationships with other managers outside her own department. Brianna's behavior should be viewed as dysfunctional politics. functional politics. coercive power. functional influence. 2 points QUESTION 2 1. The Gingerbread Factory has a separate unit that makes their chocolate crunch cookies and another unit that is completely responsible for all operations in producing their ginger snap cookies. The Gingerbread...
Using the model proposed by Lafley and Charan, analyze how Apigee was able to drive innovation....
Using the model proposed by Lafley and Charan, analyze how Apigee was able to drive innovation. case:    W17400 APIGEE: PEOPLE MANAGEMENT PRACTICES AND THE CHALLENGE OF GROWTH Ranjeet Nambudiri, S. Ramnarayan, and Catherine Xavier wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be...
Discuss ethical issues that can be identified in this case and the mode of managing ethics...
Discuss ethical issues that can be identified in this case and the mode of managing ethics Enron finds itself in this case. How would you describe the ethical culture and levels of trust at Enron? Provide reasons for your assessment. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT