--%>
Assignment Help - homework help

Consumer Equilibrium when current budget is specified

Can someone please help me in finding out the accurate answer from the following question. When Brussels sprouts cost $1 per pound and tofu is $2 per pound and your marginal utilities (additional jollies) from either an additional pound of tofu or an additional pound of Brussels sprouts per month are both 40 utils (jollies), then, provided your current budget, you: (i) Are presently maximizing your satisfaction. (ii) Can profit by purchasing more Brussels sprouts and less tofu. (iii) Would purchase more tofu and less Brussels sprouts when you inherited some money. (iv) View Brussels sprouts as an inferior good, and tofu as the normal good. (v) Can profit by eating more tofu and less Brussels sprouts.

   Related Questions in Macroeconomics

  • Q : Income approach to evaluate national

    Explain in short the income approach to evaluate national income. Answer: Under income method to compute the National Income, the steps given below have been taken into account: A) First of all production units tha

    		•
  • Q : Stock option price-Strike price-Put and

    What do you mean by the following terms: a stock option price, strike price and what are a put and a call?What is the merits or demerits of purchasing stock options over stocks? What function do Mutual Funds execute with Stock Market

    		•
  • Q : Balance the budget general approaches

    Quetion: Explain why there are long-term Federal government budget problems.   Explain why the base-line forecast of the CBO is misleading.   Include in your answer why solutions to the problem

    		•
  • Q : Physical quality of life index DISCUSS

    DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.

    		•
  • Q : What is substitutes Substitutes : The

    Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.

    		•
  • Q : Illustration of equal marginal advantage

    Can someone please help me in finding out the accurate answer from the following question. Shoppers who shift among checkout lanes until it emerges that all register lines are probable to be equally time-consuming are trying to verify to the law of: (i) Equivalent mar

    		•
  • Q : Define involuntary unemployment

    Involuntary unemployment: Involuntary unemployment terms to a condition in which people that are willing to work are unable to obtain work.

    		•
  • Q : Net revenue when price increases Net

    Net revenue for Macho Man fake mustaches increases after the price raised from $5 to $7, pointing that demand faced by Macho Man was: (i) Relatively elastic. (ii) Relatively inelastic. (iii) Unitarily elastic. (iv) Perfectly inelastic. (v) Perfectly e

    		•
  • Q : Analyzing number of event that

    How can we analyze the number of event that influences the market?

    		•
  • Q : Repayment of loan-Capital expenditure

    Why the repayment of loan is a capital expenditure? Answer: Repayment of loan is taken as a capital expenditure since it diminishes the liabilities of Government.

    		•