a) From the graph above, complete columns 2 and 4 of the table above. Round your answers to whole numbers b) If the price of both products is $1, what quantity of each good would Marshall purchase if his budget was $8? Quantity of A: Quantity of B: c) Suppose that the price of product A increases to $2. Complete column 3 of table above. d) If Marshall's budget remained the same, what quantities of each good would he now purchase? Quantity of A: Quantity of B:

a) From the graph above, complete columns 2 and 4 of the table above. Round your answers to whole numbers b) If the price of both products is $1, what quantity of each good would Marshall purchase if his budget was $8? Quantity of A: Quantity of B: c) Suppose that the price of product A increases to $2. Complete column 3 of table above. d) If Marshall's budget remained the same, what quantities of each good would he now purchase? Quantity of A: Quantity of B:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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