9.Beth earns $500 per month as a college student. She spends $100 on groceries and she splits therest equally between entertainment and savings.She can spend her grocery money on ramen for $1 per brick or on pretzels for $2 per bag.TaskDraw a budget constraint for groceries. What is the slope?Graphically depict the budget constraint if the price of pretzels increases to $4.How is her budget constraint for ramen and pretzels affected if her income increases to $480?

The graph above shows the budget constraints for Beth's grocery spending under three different…

Answered: 9. Beth earns $500 per month as a…

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 4SQP

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The whole number 3 please
Figure 22-17 The graph shows two budget constraints for a consumer. Quantity of Hamburgers 9 Budget Constraint A Budget Constraint B 10 15 Quantity of Light Bulbs Refer to Figure 22-17. Suppose Budget Constraint B applies. If the consumer's income is $90 and if he is buying 5 light bulbs, then how much money is he spending on hamburgers?
. Draw the student's budget constraint. Put burritos on the x-axis and sodas on the y-axis. A student has a monthly budget of $120 to spend on either burritos, which cost $6 each, or sodas, which cost $4 each.
Ryan has $30 per week to spend on snacks. She is a bit health conscious so she prefers to buy either alkaline water which is $5 per liter or protein bars which cost $3 per bar A. Use the graph to plot her budget line given the info above B. The price of protein bars increases to $4. Draw her new budget line(assume she can purchase fractions of water bottles or protein bars. C. Ryan’s weekly budget decreases to $24 while the price of protein bars stays at $4 and the price of water bottles stays at $5. Draw her new budget line (assume she can purchase fractions of water bottles or protein bars)
Use this information to answer the following 4 questions: Marie has a weekly budget of $24,which she likes to spend on magazines and pies.24. If the price of a magazine is $4 each, what is the maximum number of magazines she couldbuy in a week?25. If the price of a pie is $12, what is the maximum number of pies she could buy in a week?26. Draw Marie’s budget constraint with pies on the horizontal axis and magazines on thevertical axis. What is the slope of the budget constraint?27. What is Marie’s opportunity cost of purchasing a pie? I need help with number 26 and 27.
Consumer choiceJo buys muffins and cupcakes at a bakery. Jo’s weekly budget for baked goods is $70. The priceof muffins is $1.25. The price of cupcakes is $1.75.a) Write down Jo’s budget constraint: express the quantity of cupcakes as a function of thequantity of muffins.b) Show Jo’s budget constraint on a graph. Let quantity of muffins be on the horizontal axis. Letquantity of cupcakes be on the vertical axis.c) Show the following consumption bundles (points) on the graph. Calculate the cost of eachconsumption bundle and state which one of them are feasible.• Point A: 49 muffins and 3 cupcakes.• Point B: 38 muffins and 15 cupcakes.• Point C: 24 muffins and 24 cupcakes.• Point D: 14 muffins and 30 cupcakes.d) Which of these four points can be Jo’s optimal consumption bundle? Why?e) The price of cupcakes decreased to $1.5. Provide an example of a consumption bundle thatbecame feasible now but wasn’t feasible before the decrease in price. Calculate the cost ofthis consumption bundle…
Consumer choiceJo buys muffins and cupcakes at a bakery. Jo’s weekly budget for baked goods is $70. The priceof muffins is $1.25. The price of cupcakes is $1.75.a) Write down Jo’s budget constraint: express the quantity of cupcakes as a function of thequantity of muffins.b) Show Jo’s budget constraint on a graph. Let quantity of muffins be on the horizontal axis. Letquantity of cupcakes be on the vertical axis.c) Show the following consumption bundles (points) on the graph. Calculate the cost of eachconsumption bundle and state which one of them are feasible.• Point A: 49 muffins and 3 cupcakes.• Point B: 38 muffins and 15 cupcakes.• Point C: 24 muffins and 24 cupcakes.• Point D: 14 muffins and 30 cupcakes.
8. Suppose that you are able to consume only two goods, coffee and donuts. Use a graphical and written analysis to answer the following questions. Draw your budget constraint for coffee and donuts. Please put donuts per week on the y-axis and cups of coffee per week on the x-axis. Label all axes. Illustrate the optimal bundle E. b. Suppose you learn that coffee will prolong your life. Illustrate this new information on the budget constraint in your graph. Identify the new equilibrium bundle E'. Do you now drink more or less coffee than before the new information? Why? d. Are you better off, worse off, or as well off at the new equilibrium as the old? How can you be sure of your answer? a. с.
alex has a budget of $100 a month for a movie tickets and restaurant meals. A movie ticket will cost $10 and a restaurant meal costs $20. which of the following combinqtions is part of alexs budget constraint?
Typed plz and Asap thanks
Suppose that a household has a weekly budget of $200 a week for its weekly shopping trip when it spends its weekly budget on toilet paper priced at $0.50 per roll and other goods. a. Draw a large diagram showing the household's weekly budget constraint for rolls of toilet paper and $ of other goods. Label the axes, the intercepts, the budget constraint and give the diagram a title. b. If the toilet paper and other goods are perfect complements and the household is observed to buy 24 rolls of toilet paper per week, draw an indifference curve that indicates this situation. Label the household's demands for toilet paper rolls and other goods and its indifference curve. C. Suppose a quota is introduced limiting purchases of toilet paper to 12 rolls per weekly shop. On the diagram from a. and b., draw the household's budget constraint and the highest indifference curve the household can reach. Label the household's budget constraint, demand for toilet paper rolls and other goods and the…
1. An individual's budget Suppose Darnell has a weekly budget of $32 to spend on ranch dressing and spinach. Ranch dressing is priced at $4 per bottle, and spinach is priced at $2 per container. If Darnell spends his entire $32 on ranch dressing, he can buy 16 containers of spinach. 8 bottles of ranch dressing. If he spends his entire $32 on spinach, he can buy Use the blue line (circle symbol) to plot Darnell's budget constraint on the following graph. Next, use the orange point (square symbol) to shade the area that represents combinations of ranch dressing and spinach that are affordable for Darnell. Finally, place the black point (plus symbol) on the point on Darnell's budget constraint that corresponds to a scenario in which Darnell spends $16 on each good. Note: Dashed drop lines will automatically extend to both axes.

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