Question
Suppose after paying bills and setting aside some money
for retirement, Joana has $130 left to spend on just two goods: concerts and books. For simplicity, we’ll assume concert tickets cost $55 and books cost $10. Which of the following combination of goods could be her utility-maximizing bundle?Solution
To maximise the utility Joana must buy 2 concert ticket and 2 books. (2*55 + 2* 10 = 130). Option 1 and 5 is unattainable for Joana and other options are not as efficient as option B is.
What is the primary focus of the Stand-Up India Scheme? Â
State Bank of India has inked a memorandum of understanding (MOU) with the ________ Cooperative Milk Producers Union to provide loan to individual dairy...
Which cities does the first Namo Bharat Rapid Rail connect?
The gestation period for elephants spans approximately how many months?
Who has been named the ICC World Cricketer of the year?
Which country's parliament is called the Shora?
Who is appointed as the next High Commissioner of India to the United Kingdom?
'Uttar Pradesh Day' was first organized on?
Who facilitated the opening of the Great Silk Route to Indians?
Indirasagar Dam is situated in which Indian state?
