A student has a monthly budget of $120 to spend on either burrito, which cost $6 each, or sodas, which cost $4 each. . What is the opportunity cost of a soda?
Q: estion 2 Which of the following are included in the calculation of an economy's wealth The market…
A: Wealth is the accumulation of valuable economic resources, which may be measured in terms of…
Q: 9 family orders one pizza to be shared exclusively. gets a fraction S₁ Suppose a by their two…
A: Utility of Child 1 : U(S1 ) = S1 Utility of Child 2 : U (S2) = 3S2 Utility maximizing point is…
Q: The market for cruises is at its market equilibrium when two events occur: cruise companies increase…
A: "Market is in equilibrium when market demand and market supply for a particular product intersect…
Q: What happens in the graph when the price of bottled water rises? What happens when the price of…
A: The given graph shows the supply curve of bottled water in the market. It is an upward sloping curve…
Q: briefly please
A: According to the question here The graph in question is related to the Monopoly firm where .…
Q: What is total expenditure in an economy? Total expenditure is equal to expenditure ______. A. on…
A: Total expenditure in an economy is also referred to as its GDP. Total Expenditure includes…
Q: Question: The Federal Reserve is currently increasing interest rates, and has indicated that it will…
A: Given: Federal Reserve is increasing the interest rates and will continue doing that for all of…
Q: 6
A: A perfectly competitive market, where there are an infinite number of firms operating, is the…
Q: What happens in the market for bike sharing if the supply of bikes increases by more than the demand…
A: An equilibrium cost, otherwise called a market-clearing cost, is the buyer cost doled out to a few…
Q: Use the following information to answer the questions below: (1) the rate of depreciation is 10% per…
A: Provided that, Depriciation (d) is 10% Population growth rate (n) is 2% Growth rate of technology…
Q: (Q: 12-2508858) A single-price monopolist faces an inverse demand function of: P(Q,B) = 100-Q+B a…
A: P=100-Q+B0.5 Profit=Total Revenue- Total Cost TR=P*Q TR=(100-Q+B0.5)Q TR=100Q-Q2+B0.5Q TC= Total…
Q: Gilberto and Juanita are farmers. Each one owns a 12-acre plot of land. The following table shows…
A: The countries involve in trade. Trade is very beneficial for all countries. It improves the market.…
Q: 3. How can government reduce structucal unemployment? a. by reducing unemployment benefits b. by…
A: Structural unemployment is a classification of unemployment brought about by contrasts between the…
Q: M1
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: Why is the relationship between price and yield negative? a. Because investors reward higher…
A: The formula for bond price calculation is given by: Bond Price = ∑i[ C/(1+r)n + F/(1+r)n] where i…
Q: #8
A: Factors of production are the components used for the process of manufacturing the goods and…
Q: gical change is pulation growth ub-Sahara er capita over
A: Solow model is an exogeneous hrowth model which means that in Solow model only the growth in short…
Q: What is the relationship between economic and accounting profit? O a. Economic profit may be equal…
A: Economic profit is the amount of money left over after all costs, both direct and indirect, have…
Q: The graph shows the market for game consoles . On the graph, draw a point at the market…
A: When market supply and demand are in balance, prices become stable. This is known as equilibrium.…
Q: 1. What equal-annual-payment series is required in order to repay each given present amount? (a) Php…
A: The rate of interest that is actually generated on an investment or paid on a loan as a result of…
Q: Which combinations of burritos and sodas are unaffordable--those to the left of the line in the…
A:
Q: Consider the market for High-Definition television sets in an average town in America. a. Start in…
A: In the free market, price and quantity is determined by the intersection of demand and supply curve.…
Q: What significance does the Philippine government's campaign to promote biodiversity have?
A: The term "biodiversity" describes the wide variety of species that make up our natural environment,…
Q: ith the theory of demand and supply, carefully explain the impact of an increase in price of steel…
A: According to the law of demand, Price(P) and quantity demanded (Q) have an inverse relationship. In…
Q: Mr. Animesh purchase a 5-year, 5-percent savings certificate for Rs. 50,000. If interest is…
A: Compound interest is the name for the interest on a credit or deposit that is re - assessed on both…
Q: A firm is selling two products-chairs and bar stools-each at $50 per unit. Chairs have a variable…
A: Total Cost = Total Variable Cost + Total Fixed Cost The Break-even point is the point where the firm…
Q: Which of the following statements about direct and indirect costs is/are likely to be true? Note:…
A:
Q: Empirical studies that have examined the longer-term effects of increasing the minimum wage Find…
A: Least wages have been characterized as the base measure of wages that a business is expected to pay…
Q: Provide an explanation an economist might give showing why each statement is true: - Entrepreneurs…
A: Meaning of Managerial Economics: The term managerial economics is all about management under…
Q: work nonstop until he has answered 154 practice problems for his economics his progress throughout…
A: Given information: Time Total problem answered 8:00 AM 0 9:00 AM 70 10:00 AM 112 11:00…
Q: how to find the oppotunity cost if given the PPF equation => 9x^2 + y^2 = 81; which we must find the…
A: Introduction Production possibility curve shows all the production possibility of producing two…
Q: Calculate CPI and TCPI and comment on whether our cost management in the following project is…
A: The CPI is the ratio of the actual cost (AC) of carrying out the project activities to the earned…
Q: 1. You are planning to save enough money to buy a brand new car five years from now. You are setting…
A: Given, Amount to save for a brand new car five years from nown=5yearsBudget for car : Php…
Q: 1. What happens to the reservation wage if non-labour income increases and why? 2. What economic…
A: Disclaimer- “Since you have asked multiple question, we will solve the first question for you as per…
Q: Suppose apartments are in four locations: Location A, Location B, Location C, and Location D.…
A: The opportunity cost of a specific activity is the value or benefit surrendered by engaging in that…
Q: The term refers to a practice in which employers decide to hire more workers than are required for…
A: Given information, Misallocation-When capital and labor are unfairly spread, less productive…
Q: A cable television company estimates that with x thousand subscribers, its monthly revenue and cost…
A: Break even points is the point where firm earn normal profit which is situation of neither profit…
Q: QUESTION 4 Mrs. Obaatanpa has a wealth of Ghe 3,500 for one year. There is a 35% probability that…
A: Thank you for the question. According to Bartleby's answering guidelines, we are allowed to answer…
Q: 1. Briefly explain economic growth and discuss two major economic benefits of economic growth
A: Please find the answer below. ECONOMIC GROWTH: Economic growth is an increase in the production of…
Q: 6. Supply creates demand a. Say's law b. Keynesian law
A: Say's law and Keynesian law are two different laws of economy. Say's law related to classical theory…
Q: The demand for cigarettes has seen some decrease ever since vaping was introduced as a less harmful…
A: There is always movement along the demand or supply curve when the price changes. But there is…
Q: The market for fresh chicken is at its market equilibrium. Now the price of beef rises and the…
A: The above question is an example of Substitutes goods. A substitute good is something that is…
Q: Which of the following parties will suffer if the value of the US dollar decreases? Group of…
A: Devaluation is the process through which a currency loses value when measured against other…
Q: 5. Economic growth and PPCs PPC₁ shows the current production possibilities curve (PPC) for the…
A: Production possibility frontier is a curve is a curve that displays the assortment of items that can…
Q: Cho is a hard-working college freshman. One Tuesday, she decides to work nonstop until she has…
A: GIVEN DATA, A chart is provided showing the amount of time and difficulties that have been resolved…
Q: When the marginal product is greater than the average product, the average product is . .. . .. ..…
A: In a market when a firm produces output using variable inputs, there is a connection between total…
Q: Should the rich be taxed more or not? Discuss this concept giving concrete examples of both pros and…
A: The rich should pay a higher portion of taxes because their income exceeds ten times that of the…
Q: Which of the following external sources of increasing capital stock has maximum political…
A: The correct option for the 1st question should be foreign aid. This is because foreign aid refers to…
Q: 2. If peanut butter brings you 30 utils of pleasure for the last dollar's worth, and the last dollar…
A: In order to maximize utility, a consumer make economic decisions that guarantee the highest level of…
Q: 19. Which of these statements is true according to the Keynesian (post-Keynesian) view a. Increases…
A: Keynesian believes that demand management is key to restore equilibrium in the economy. The economy…
A student has a monthly budget of $120 to spend on either burrito, which cost $6 each, or sodas, which cost $4 each.
. What is the
Step by step
Solved in 2 steps
- If 2 tacos and 3 drinks cost $12, and 3 tacos and 2 drinks cost $13, how much does a taco cost?Explain why individuals make choices that are directly on the budget constraint, rather than inside the budget constraint or outside it.Chapters 2 1. Suppose Alphonso's town raises the price of bus tickets from $1 to $2 and the price of burgers rises from $2 to $4. Why is the opportunity cost of bus tickets unchanged? Suppose Alphonso's weekly spending money increases from $10 to $20. How is his budget constraint affected from all three changes? Explain and sketch the difference graphs.
- Q15.) Answer each question. Marie has a weekly budget of $24, which she likes to spend on magazines and pies. The price of a pie is $12 1.) If the price of a magazine is $4 each, the maximum number of magazines she could buy in a week is ___. 2.) If she buys 1 pie the number of magazines she can buy in a week is ____. 3.) What is her S opportunity cost of purchasing a pie? ___ 4.) If Marie's weekly budget is $24, which she likes to spend on magazines and pies, and If the price of a pie is $12 each, what is the maximum number of pies she could buy in a week? ___1. Suppose you earn $1500 per week and you consume only two types of goods per week- sandwiches and orange juice, which you purchase at a mini mart. Each sandwich cost $150 and an orange juice is $75 per cup. a) Construct a table showing the alternative combinations of the two products that are available. b)Plot the data in your table on a budget line. What is the slope of the budget line? What is the opportunity cost of one more cup of orange juice? And what is opportunity cost of one more sandwich? Do these opportunity cost rise, fall or remain constant as you purchase an additional unit of the product? c)Suppose the price of a cup of orange juice increased to $150. Construct a new table showing alternative combinations of sandwiches and orange juice. Construct the new budget line.The question says Olivias favorite Mexican snacks include flautas and sopapitas. If her $12 budget is represented in the graph The price of flauta is ___ and sopapitas is ___? Select one a. $2 ; $4 b.$3 ; $4 c.$4 ; $3 d.$6 ; $3 Graph is given.
- What other factors affect the marginal utility?Explain what the utility maximizing choice means. Discuss how you could use marginal utility to make consumer choicesWhich is a true statement about marginal benefit? It is the difference (or change) in cost of a different choice. To an individual, one good may have a larger marginal benefit than than another. The amount of benefit a person receives from a good or service remains constant.
- Suppose that you initially have $100 to spend on books or movie tickets. The books start off costing $25 each and the movie tickets start off costing $10 each. For each of the following situations, would the attainable set of combinations that you can afford increase or decrease? a. Your budget increases from $100 to $150 while the prices stay the same. b. Your budget remains $100, the price of books remains $25, but the price of movie tickets rises to $20. c. Your budget remains $100, the price of movie tickets remains $10, but the price of a book falls to $15.Explain how changes in income (budget constraint) and prices affect consumer consumption choices. Think back to a purchase that you made recently. How did you evaluate whether or not you would be purchasing the item?What does the point on a budget line indicate in terms of prices?