Sunday

March 29, 2015

March 29, 2015

Posted by **Krissy** on Sunday, February 24, 2008 at 12:14pm.

Suppose you are given the following information about the choices that Bill makes over a three-week period:

x1 x2 P1 P2 I

week 1 10 20 2 1 40

week 2 7 19 3 1 40

week 3 8 31 3 1 55

Did Bills utility increase or decrease between week one and week 2? Between week 1 and week 3? Explain using a graph to support your answer.

- economics -
**economyst**, Monday, February 25, 2008 at 9:20amWithout a doubt, between week-1 and week-2, Bill's utility went down. He consumes less of everything (both x1 and x2 go down).

Without a doubt, between week-2 and week-3, Bill's utility went up. He consumes more of everything.

**Answer this Question**

**Related Questions**

Economics - 1. An economy's production possibilities frontier is also its ...

Math - Suppose the quantity demanded per week of a certain dress is related to ...

calcullus - Suppose the quantity demanded per week of a certain dress is ...

algebra - Ten years from now Tim will be twice as old as Jane was when mary was ...

managerial economics - 2. Decide whether the following product is normal, ...

Math - Multiple Choice: Mary Jane gets a student rate of $27.50 a month for ...

Managerial Economics - Suppose Bill is on a low-carbohydrate diet. He can eat ...

math - mario got his $10.00 weekly allowance on monday. he spent 25% of his ...

math - Mario got his $10.00 weekly allowance on Monday. He spent 25% of his ...

4 grade - Mario got his $10.00 weekly allowance on Monday. He spent 25% of his ...