Assignments for Macroeconomics Econ 2202Assignment 1 Chapter 1 and 21. What is the opportunity cost of Bananas in terms of Tacos?2. What if the price of Tacos decreased to $0.50, what happens to the quantity of Tacosconsumed given a $5 Budget?BananasTacos$0.50$1Budget$5.00BananasTacos243.4.3281910Study HoursPsycholoPsycholo | EconomiEconomicsgy100csgy4.65958087883.779414.65963. What is the Opportunity Cost of studying 3 hours for Economics (Increasing the studytime in Economics from 2 hours to 3 hours).woul! be

1. The opportunity cost of Bananas in terms of Tacos = Total Tacos / Bananas = 5 / 10 = 0.5 Thus…

1. What is the opportunity cost of Bananas in terms of Tacos? 2. What if the price of Tacos decreased to $0.50, what happens to the quantity of Tacos consumed given a $5 Budget? c Tacos $1 Bananas $0.50 Dudoat SS 00

1. What is the opportunity cost of Bananas in terms of Tacos? 2. What if the price of Tacos decreased to $0.50, what happens to the quantity of Tacos consumed given a $5 Budget? c Tacos $1 Bananas $0.50 Dudoat SS 00

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

Assignments for Macroeconomics Econ 2202
Assignment 1 Chapter 1 and 2
1. What is the opportunity cost of Bananas in terms of Tacos?
2. What if the price of Tacos decreased to $0.50, what happens to the quantity of Tacos
consumed given a $5 Budget?
Bananas
Tacos
$0.50
$1
Budget
$5.00
Bananas
Tacos
2
4
3.
4.
3
2
8
1
9
10
Study Hours
Psycholo
Psycholo | Economi
Economi
cs
gy
100
cs
gy
4.
65
95
80
87
88
3.
77
94
1
4.
65
96
3. What is the Opportunity Cost of studying 3 hours for Economics (Increasing the study
time in Economics from 2 hours to 3 hours).
woul! be

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. Please help me in e). you forgot yesterday Define a budget line d.Given that Tebogo's income is P1800 price of food is P30 and price of entertainment is P40, Draw tebogos budget line. e.Using a diagram, show what woul happen to Tebogo budget line if the price of food decreases to 20 while the price of entertainment remain unchanged. f.Using a diagram, show what would happen to Tebogo's budget line if income increases from P1800 to P2100 while prices remain P30 for food and P40 for entertainment.
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