Horatio consumes 20 fries and 12 shakes per week. the price of fries is $3 each and shakes are $5 each. 2.1 what is the amount of income allocated to shakes and fries consumption? 2.2 what is the price ratio (the price of shakes relative to the price of fries)? 2.3 if horatio maximizes utility, what is the ratio of the marginal utility of shakes to the marginal utility of fries? (hint: start with the rule that you know and then use a bit of algebra.) 2.4 if the price of fries falls, will horatio consume more fries, fewer fries, or the same amount of fries? explain your answer using the rule of equal marginal utility per dollar, and include a rationale.

answer///(d)individual rights of a person are integral to analyzing the morality of action;

answerpurchase-occasion segmentation;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.