Hiro's bus ticket and sandwich budget is $24 a week. The price of a bus ticket is $6 and the price of a sandwich is $3. Draw Hiro's budget line and label it. >>> Plot the quantity of sandwiches on the x-axis. Other things remaining the same, if the price of a bus ticketrises, Hiro's budget line Other things remaining the same, if Hiro's budget for bus tickets and sandwiches decreases, his budget line OA. rotates inward; shifts inward OB. rotates outward; shifts outward

Hiro's bus ticket and sandwich budget is $24 a week. The price of a bus ticket is $6 and the price of a sandwich is $3. Draw Hiro's budget line and label it. >>> Plot the quantity of sandwiches on the x-axis. Other things remaining the same, if the price of a bus ticketrises, Hiro's budget line Other things remaining the same, if Hiro's budget for bus tickets and sandwiches decreases, his budget line OA. rotates inward; shifts inward OB. rotates outward; shifts outward

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Hafidh's income is $200 a month. The price of watch is $25 a show, and the price of a Jeans is $15. a) Calculate the equation for Hafidh's budget line b) Draw a graph of Hafidh's budget line with the quantity of Watches on the x-axis. c) If Hafidh's income increased from S200 to 350S. Explain and show how Hafidh's budget line changes with watches on the x-axis.
given that Tebogo's income is P1800, price of food is P30 and price of intertainment is P40. draw Tebogo's budget line. using a diagram show what would happen to Tebogo's budget line if the price of food decreases to 20 while the price of entertainment remain the same using a digram show what would happen to Tebogo's buget line if income increases from P1800 to P2100 while prices remain P30 for food and P40 for entertainment
Jerry has $12 a week to spend on yogurt and magazines. The price of yogurt is $2, and the price of a magazine is $4. a. List the combinations of yogurt and magazines that Jerry can afford. Draw a graph of Jerry’s budget line with the quantity of magazines plotted on the x-axis.
Give 5 examples each of inferior goods and normal goods
Hiro's latte and paperback book budget is $20 a week. The price of a latte is $2 and the price of a paperback book is $5. Choose the statement that is correct. O A. When Hiro spends all his budget on paperback books, he must buy fewer than 4 paperback books a week. O B. When Hiro buys 10 lattes a week he cannot afford to buy a paperback book. O C. Hiro cannot afford to buy 5 lattes and 2 paperback books a week. O D. When Hiro buys 10 lattes, he can afford to buy 2 paperback books. Draw Hiro's budget line and label it. >>> Plot the quantity of paperback books on the x-axis. 11- 10- 9- 8- 7- 6- 5- 4- 3+ 2- 1- 0- Quantity (lattes per week) 0 2 3 4 5 6 7 8 9 10 11 Quantity (paperback books per week) >>> Draw only the objects specified in the question. 1
Raymond consumes meatloaves and pineapples. He has decided that hismonthly budget will be $1500. Suppose that one meatloaf costs $375, while one pineapple costs $150. i. Draw a graph of Raymond’s budget line (meatloaf on the y axis). ii. Show how Raymond’s budget line changes if the price of pineapplesincreases to $370.
Raymond consumes meatloaves and pineapples. He has decided that his monthly budget will be $1500. Suppose that one meatloaf costs $375, while one pineapple costs $150. c. Show how Raymond’s budget line changes if the price of pineapples increases to $370. d.. Suppose Raymond decides to cut his monthly budget in half. Coincidentally, the next time he shops, he learns that meatloaves and pineapples are on sale for half price. Show what happens to Raymond’s budget line?
Good X A B IC2 ICG Good Y The rotation of the budget line from red to blue depicts an increase in monetary income. The rotation of the budget line from red to blue depicts a decrease in monetary income. O The rotation of the budget line from red to blue depicts an increase in the price of X. O The rotation of the budget line from red to blue depicts an increase in the price of Y. O The rotation of the budget line from red to blue depicts an decrease in the price of X. O The rotation of the budget line from red to blue depicts an decrease in the price of Y. After the budget line rotates from red to blue, the amount of X consumed will increase. After the budget line rotates from red to blue, the amount of Y consumed will increase. O After the budget line rotates from red to blue, the amount of Y consumed will decrease. O After the budget line rotates from red to blue, the amount of X consumed will decrease. O After the budget line rotates from red to blue, the person will move from A to…
The diagram shows Sam's budget line. Sam's budget line shows 40 16 4 8. 12 16 20 24 Coffee (pounds per week) O A. which combinations of gasoline and coffee Sam can afford. B. which combinations of gasoline and coffee Sam is planning to purchase. OC. whether or not Sam thinks gasoline and coffee are worth their prices. OD. whether or not Sam currently has enough gasoline and enough coffee. 32 24 Gasoline (gallons per week)
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.
a. Which graph shows a change in the price of X, but no changes in the price of Y and in the buyer's budget?Which graph shows a change in the buyer's income, but no changes in the prices of X and Y?Which graph shows an increase in the price of Y and a decrease in the price of X?
You consume only soda and pizza. One day, the priceof soda goes up, the price of pizza goes down, andyou are just as happy as you were before the pricechanges.a. Illustrate this situation on a graph.b. How does your consumption of the two goodschange? How does your response depend onincome and substitution effects?c. Can you afford the bundle of soda and pizza youconsumed before the price changes?