Economics - Fmu

Unit 1 - Economics Chapter 2 review questions 6, 11 and 20 2-6 Perfect substitutes have straight-line nonchalance curves which are parallel lines since the consumer would be willing to contend at a fixed ratio. The bare(a) vagabond of substitution is constant. As we get more of the good, we trade off with the substitute at a constant rate because we are indifferent between them. Examples of this are Coke and Pepsi or Minute Maid Orange succus and Tropicana Orange Juice or Betty Crocker, Pillsbury or Duncan Hines cake mixes. Perfect complements have square indifference curves. If goods can only be used together, there is no satisfaction in having more of A without special amounts of B (i.e. left and right shoe). In general, the repair substitutes goods are, the straighter the indifference curve. BASIC ECONOMICS: Theory of Consumer Choice, http://www.basiceconomics.info/theory-of-consumer-choice.php 2-11 most(prenominal) people leave a stage in a restaurant to reward the waitress (or waiter) for good service (filling tea leaf glasses, keeping coffee hot, bringing food to table, etc.) and to encourage better service when they return to the restaurant. However, there are those few who progeny advantage of the situation. I really expect waitresses or waiters in residential area restaurants would earn more tips.

They develop their stage business who return on regular basis and leave nowadayss tip in anticipation of next hebdomads service. People traveling the interstate eat at a restaurant one time and quite peradventure never revisit that same one. Leaving a tip is optional since they probably wont return. 2-20-A I slangt think the economic model would explain this in detail. It is probability and hypothesis that New Yorkers are not as honest as Japanese. I would not have believed person sitting in line at the employment protective cover office waiting to file an unemployment claim would have false a billfold in, but it happened. And when I looked through it for a name and phone number, there... If you want to get a expert essay, order it on our website: Ordercustompaper.com

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