Recent Posts • Latest Topics • Unanswered Questions

Consider a society consisting of just a farmer and a tailor. The farmer has 30 units of food but no ...

djsmyers

wrote...

Go to Answer

Posts: 764

Rep:

6 years ago

Consider a society consisting of just a farmer and a tailor. The farmer has 30 units of food but no ...

Consider a society consisting of just a farmer and a tailor. The farmer has 30 units of food but no clothing. The tailor has 60 units of clothing but no food. Suppose each has the utility function U = F1/3C2/3. If the price of clothing is always $1, and the food price is currently $1, then we can conclude
A) the market is at a competitive equilibrium.
B) the price of food will drop towards a competitive equilibrium.
C) the price of food will increase towards a competitive equilibrium.
D) None of the above.

Textbook

Microeconomics: Theory and Applications with Calculus

Edition: 4^th

Author: Perloff

Read 143 times

1 Reply

Report

Replies

Answer verified by a subject expert

unExpected

wrote...

Posts: 267

Rep:

6 years ago

More solutions for this book are available here

Report

* Majoring in business & math

Related Topics

djsmyers Author

wrote...

6 years ago

Thanks

Starfiew

wrote...

Yesterday

Helped a lot

jbag1237

wrote...

2 hours ago

This site is awesome

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1037 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

374

182

190

Your Opinion

Previous poll results: Does a gender wage gap exist in America?

The Toxic Skin and Fungi Defense

Strange Ingredients Lurking in Doritos Chips

Courses by Biology Forums

Bonobos, Chimpanzees, and the 98% DNA Link

It's sore throat season, why does my mucus have red spots?

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.