Find marginal utility of the last cup of tea, Microeconomics

+44 141 628 6080
[email protected]

Find marginal utility of the last cup of tea

Suppose that Kathy drinks coffee and tea and is in consumer equilibrium. The marginal utility of the last cup of coffee that she drank was 8, while the marginal utility of the last cup of tea she had was 7. If the price of the tea is $0.70 per cup, what is the price of a cup of coffee?

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find marginal utility of the last cup of tea

Reference No:- TGS047196

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Microeconomics

Q : Computing annual coupon payment

AXYZ Company's bonds are selling for $1,088 today, and have 7 years left to maturity. The market interest rate for similar bonds is 7%. What is the annual coupon payment and today's current yield?

Q : Money in an interest-bearing account

If Apex deposits the money in an interest-bearing account yielding 8 percent, what will be the cash received from the sale, assuming no tax effect? The spot rate at the beginning of the transaction is $1.8500 per pound, and the rate 90 days later

Q : Why caterpillar have different opinion about value of dollar

They just booked their European vacation because of the dollar's high value. Why do Caterpillar and your parents have different opinions about the value of the dollar?

Q : Yirld of money in an interest-bearing account

Q : Find marginal utility of the last cup of tea

while the marginal utility of the last cup of tea she had was 7. If the price of the tea is $0.70 per cup, what is the price of a cup of coffee?

Q : Customers in exchange for goods or services

The principle that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash and (3) measures the amount of revenue as the cash plus the cash equivalent

Q : Firm capital structure

Which one of the following states that a firm's cost of equity capital is directly and proportionally related to the firm's capital structure?

Q : What amount, if any, can abc corporation deduct

ABC Corporation made cash contributions of $35,000 to charitable organizations in 2012. ABC Corporation had taxable income of $280,000 without taking into account its charitable contributions for the taxable year ended December 31

Q : How much gain is recognized by jack

Jack transferred property with an adjusted basis of $45,000 to JKL Corporation. There was a $35,000 mortgage on the property. In exchange for the transferred property, Jack received stock with a fair market value of $65,000 and $25,000 cash, and t

1949186

Questions
Asked

3,689

Active Tutors

1417635

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find marginal utility of the last cup of tea

Reference No:- TGS047196

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Computing annual coupon payment

Q : Money in an interest-bearing account

Q : Why caterpillar have different opinion about value of dollar

Q : Yirld of money in an interest-bearing account

Q : Find marginal utility of the last cup of tea

Q : Customers in exchange for goods or services

Q : Firm capital structure

Q : What amount, if any, can abc corporation deduct

Q : How much gain is recognized by jack

Provide reasons why working from a person centred

Is lifespan psychologists are unlikely to investigate

Outline a social issue that is important to you

How we perceive objects in the real world

Identify a specific theory of cognitive or moral development

How teenagers in an impoverished urban area spend their time

Discuss three ethical guidelines that are important

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find marginal utility of the last cup of tea

Reference No:- TGS047196

Recent Questions Asked Microeconomics

Q : Computing annual coupon payment

Q : Money in an interest-bearing account

Q : Why caterpillar have different opinion about value of dollar

Q : Yirld of money in an interest-bearing account

Q : Find marginal utility of the last cup of tea

Q : Customers in exchange for goods or services

Q : Firm capital structure

Q : What amount, if any, can abc corporation deduct

Q : How much gain is recognized by jack

Asked Questions