Determine relative price when two products prices are given

When the prices for doughnuts and croissants are $.50 and $1 correspondingly: (w) the opportunity cost for one doughnut is two croissants. (x) this is better to buy two doughnuts than one croissant. (y) one croissant will make Pierre twice as happy as one doughnut. (z) the relative price of one croissant is two doughnuts.

Can someone explain/help me with best solution about problem of economic...

View Complete Question

Related Questions in Business Economics

Q : Positive Balance of Payments Question:

Question: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments." Briefly comment on this

Q : Negatively association to probability

Adam Smith would have agreed mostly along with the concept which wages are: (i) positively associated to physical comfort when working. (ii) negatively related to the cost of learning the business. (iii) positively associated to the s

Q : Garfield’s utility function Problem 2

Problem 2 Consider Garfield's utility function given as U(x1, x2) = x1x2, wher

Q : Transfer income in national income Is

Is transfer income involved in national income? Explain Why? Answer: No, since transfer income does not effect in the production of services and goods.

Q : Define explicit cost and implicit cost

Briefly describe the term explicit cost and implicit cost?

Q : Argument by Adam Smith for a true

Within the Wealth of Nations, argument by Adam Smith such that a nation’s true wealth is its capability to: (1) obtain stocks of financial capital. (2) inspire its people’s courage and diligence. (c) give

Q : Illustrate Other Things Equal revisited

Illustrate “Other Things Equal” Revisited in Supply and Demand, and Equilibrium?

Q : Qualitative and Quantitative data What

What is the difference between qualitative data and quantitative data, provide an example of each.

Q : Market structure and pricing decision

Just need help to see if I am in the right direction if there any think wrong need help with it.

Q : How is productivity of labor based

In Wealth of Nations by Adam Smith, opined that the productivity of labor based primarily on: (w) workers’ education. (x) divisions of labor. (y) technologically advanced machines. (z) suitable wage rates.

Discover Q & A

Leading Solution Library

Avail More Than 1430035 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1944415
Asked

3,689

Active Tutors

1430035

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment