A consumer sets themselves a weekly budget of $15 for vegetables. They only eat carrots and peas. Peas cost $1.50 per pound and carrots cost $1.00 per pound. 2. Draw a budget line for the consumer showing his possible weekly consumption of peas and carrots. Label both axes with numbers and an axis title. Add a second line that shows what happens when carrots go on sale for $0.75 per pound. Upload your diagram.

Q: Theodore's budget line has changed from A to B. Which of the following explains the change in…

A: Budget line shows combinations of two goods that can be bought with given level of income

Q: alex has a budget of $100 a month for a movie tickets and restaurant meals. A movie ticket will cost…

A: Income per month(M) = $100 Two goods: Movie ticket(M) & Restaurant meal(R) Price of Movie ticket…

Q: Using the data in the table below, calculate Aggregate Expenditure (AE), Savings (S), and increasing…

A: The income, consumption and investment for the three period as given as follows. IncomeConsumption…

Q: Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the…

A: The price of pizza is $2.00 The price of soda is $2.00

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Given:Budget: $24Price of Sletzer: $2Price of peanut butter: $6  If Jacques spends his entire $24 on…

Q: What does the point on a budget line indicate in terms of prices?

A: # A budget line of the consume represents the price of the two goods and the budget of the income of…

Q: 1. You have a budget of $125 per month that you can spend digital music or eating dinner. Each…

A: The utility of the digital album and dinner is given below:AlbumsDinnerNo per weekTUNo per…

Q: Complementary goods are goods that are closely related. Choose the example below that best describes…

A: The objective of the question is to identify the best example of complementary goods among the given…

Q: If iPad is considered a normal good, when income in Camarillo goes up, the effect on iPad in…

A: In a market, if a good is a normal good, it will have an inverse relationship with the price, and a…

Q: 1. X1 and x2. The price of x, is $80 per unit and the price of x2 is $40 per unit; x1 and x2 are…

A: Disclaimer :- As you posted multipart questions we are supposed to solve the first 3 questions only…

Q: Ryan has $30 per week to spend on snacks. She is a bit health conscious so she prefers to buy either…

A: Money Income = $30 Price of alkaline water per liter = $5 Price of protein bar = $3 Let the liter…

Q: Problem: Cans of dog food (cans per week) 20 16 4 0 4 8 12 16 20 24 Cans of cat food (cans per week)…

A: The budget line showcases the different combinations of goods that an individual can purchase for a…

Q: Price of Can of Beer = $0.50 Total Utility Price of Slice of Pizza = $1.00 Slices per Week Total…

A: According to the question, the price of beer is $0.5 and pizza is $1.

Q: A consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of…

A: Every human has needs that must be met in order to improve their welfare as a whole. Utility is the…

Q: Luke has a monthly income of $80. He spends this money making telephone calls from home (measured in…

A: Budget constraint refers to all possible combinations of goods that a person can afford, given the…

Q: a)Assume that the typical consumer always spends a small share of her overall budget on Vietnamese…

A: Total customers = 120,000 Price of other products = Pm= $1 Price of Vietnamese Meals = Pv The…

Q: Quantity of D 10+ 8 6 4 2 02 4 6 8 10 Quantity of C Refer to the budget line shown in the diagram.…

A: The budget constraint represents all the combinations of the goods and services that the consumer…

Q: The graph shows the budget line for a consumer who only buys cookies and magazines. If the…

A: Budget line is the graphical representation of different combinations of two goods that a consumer…

Q: A consumer is trying to decide between purchasing one smoothie or one cappuccino. They get 30 utils…

A: In economics, the term "utility" refers  to define the value or worth of a product or service. More…

Q: Suppose you go to Trader Joe's to buy fruit for the week. You only like apples (A) and bananas (B)…

A: Preference is over apples and bananas.Income = $11Price of Apples = $1 Price of Bananas = 0.25 We…

Q: A consumer has income of $3,000. Wine costs $3 per glass, and cheese costs $6 per pound. Make a…

A: Budget constraint is the boundary of the opportunity set-all plausible combinations of goods a…

Q: If a consumer's income decreases, what will happen to the budget line? It will shift outward. It…

A: A budget line, also known as a budget constraint or consumption possibility frontier, is a graphical…

Q: A consumer has a budget to spend on Shoes and Socks. At their current levels of consumption, they…

A: Marginal utility per dollar is the amount of utility obtained by the consumer from spending one more…

Q: Suppose Musashi has a weekly budget of $24 to spend on juice and yogurt. Juice is priced at $2 per…

A: The budget line shows the combination of two goods that a consumer can afford given the prices of…

Q: In 2001, the typical consumer in Volcania spent $3577 on all goods and services. They spent $1967.35…

A: Total expenditure done by consumer = $3,577 Expenditure on food = $1,967.35 Percentage of budget…

Q: Suppose Carlos has a budget of $100 to spend on soft drinks and bottled water. Soft drinks cost $2…

A: Budget line can be defined as a graphical representation of all possible combinations of two items…

Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.