Demands differ from wants because. demands reflect a decision about which wants to satisty and a pian to buy the good, while wants are unlimited and involve na specific plan to obtain the good. O . none of the answers given is true. wants imply a decision about which demands to satisfy, while demands involve no specific plan to obtain the good. O demands are unlimited, whereas wants are limited by income Owants require a plan to obtain a good but demands require no such plan.

Demands differ from wants because. demands reflect a decision about which wants to satisty and a pian to buy the good, while wants are unlimited and involve na specific plan to obtain the good. O . none of the answers given is true. wants imply a decision about which demands to satisfy, while demands involve no specific plan to obtain the good. O demands are unlimited, whereas wants are limited by income Owants require a plan to obtain a good but demands require no such plan.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Demands differ from wants in thatA) wants require a plan to acquire a good but demands require no such plan.B) demands are unlimited, whereas wants are limited by income.C) wants imply a decision about which demands to satisfy, while demands involve no specificplan to acquire the good.D) demands reflect a decision about which wants to satisfy and a plan to buy the good, whilewants are unlimited and involve no specific plan to acquire the good.
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Soppose Felix has 9dollars to spend on good x and y.The price ofgood Y is one.If consuming 6units of good y is utilitymaximizing,what must be the price of good x and the amount of goodx that he consumes for a utility function ofa.U=x^(1/3)y^(2/3)b.U=x+2yc.U=x+ln y
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