The law of diminishing marginal utility predicts the consumption

Home / Questions / The law of diminishing marginal utility predicts the consumption behavior of addicts quite

The law of diminishing marginal utility predicts the consumption behavior of addicts quite

The law of diminishing marginal utility predicts the consumption behavior of addicts quite well.

2. Frank spends $75 on 10 magazines and 25 newspapers. The magazines cost $5 each and the newspapers cost $2.50 each. Suppose that his MU from the final magazine is 10 utils while his MU from the final newspaper is also 10 utils. According to the utility-maximizing rule, Frank should:

a. Reallocate spending from magazines to newspapers.

b. Reallocate spending from newspapers to magazines.

c. Be satisfied because he is already maximizing his total utility.

d. None of the above.

Abhinav 05-Dec-2019

Answer (UnSolved)

question Get solution

All Qantas Line Maintenance Stations can communicate with inbound aircraft provides All Qantas Line Maintenance Stations can communicate with inbound aircraft provides 24 hours per day for advice on incoming defects, facilitating the preparation of appro...
Qantas Airways is the flag carrier airline of Australia Qantas Airways is the flag carrier airline of Australia. Qantas' headquarter is located at the Qantas Centre in the Mascot suburb of Sydney, New South Wales. The Qantas G...
Customers can pay their purchased tickets by cash Customers can pay their purchased tickets by cash, cheque, bank card, visa card, master cards and frequent flyer point. The payment by American express card will be charg...
The class of Qantas frequent flyer membership The class of Qantas frequent flyer membership is based on flying more for higher-level class. The types of memberships are based on distance flown, with bonuses that vary...
Each service and the in charge engineer Each service and the in charge engineer, the parts used, the problem fixed and service log for an aircraft will be recorded in the database. The management must make sure...
Qantas management is to ensure the successful completion Qantas management is to ensure the successful completion of around 300,000 flights every year to 57 airports around Australia and to 86 destinations in 36 countries that ...
Each flight maintains an inventory table for consumable products Each flight maintains an inventory table for consumable products. The inventory will be refilled at end of each trip. The management wants to analyze the high costs of pr...
Qantas has a centralised operational database to capture Qantas has a centralised operational database to capture their day-to-day ticket sales. Qantas provides online ticket sales and promotion agents for ticket sales. Promoti...
To promote the better services to VIP members and award customers To promote the better services to VIP members and award customers’ loyalty, Qantas provide the airline lounge with airport locations around Australia and the world. Those...
There are hundreds Qantas flights transporting passengers from different airports There are hundreds Qantas flights transporting passengers from different airports to over 50 domestic and international destinations every day. Qantas flight operational...

Service

The law of diminishing marginal utility predicts the consumption behavior of addicts quite

The law of diminishing marginal utility predicts the consumption behavior of addicts quite

Answer (UnSolved)

Ask Homework Question

Writing Help

Have a language expert improve your writing

Instant response from experts on your writing help queries

Find your question's answer instantly in our Q&A bank