Mikey is very picky and insists that his mom make his breakfast With equal parts of cereal 1 apple juice with any othner combination, and it ends up on the floor. Cereal costs 4 cents per tablesE and apple juice costs 6 cents per tablespoon. If Mikey's mom budgets RM8 per month for Mikey's breakfast, how much cereal and juice does she buy? А. 40 tablespoons each of cereal and juice В. 80 tablespoons each of cereal and juice C. 40 tablespoons of cereal and 75 tablespoons of juice D. 100 tablespoons of cereal and 67 tablespoons of juice
Mikey is very picky and insists that his mom make his breakfast With equal parts of cereal 1 apple juice with any othner combination, and it ends up on the floor. Cereal costs 4 cents per tablesE and apple juice costs 6 cents per tablespoon. If Mikey's mom budgets RM8 per month for Mikey's breakfast, how much cereal and juice does she buy? А. 40 tablespoons each of cereal and juice В. 80 tablespoons each of cereal and juice C. 40 tablespoons of cereal and 75 tablespoons of juice D. 100 tablespoons of cereal and 67 tablespoons of juice
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Mikey is very picky and insists that his mom make his breakfast with equal parts of cereal and apple juice with any other combination, and it ends up on the floor. Cereal costs 4 cents per tablespoon
and apple juice costs 6 cents per tablespoon. If Mikey's mom budgets RM8 per month for Mikey's breakfast, how much cereal and juice does she buy?
А.
40 tablespoons each of cereal and juice
В.
80 tablespoons each of cereal and juice
C.
40 tablespoons of cereal and 75 tablespoons of juice
D.
100 tablespoons of cereal and 67 tablespoons of juice

Transcribed Image Text:Sandra purchases 5 pounds of coffee and 10 gallons of milk per month when the price of coffee is RM10 per pound. She purchases 6 pounds of coffee and 12 gallons of milk per month when the price
of coffee is RM8 per pound. Sandra's cross-price elasticity of demand for coffee and milk is
А.
-1.22, and they are complements.
В.
1.22, and they are substitutes.
C.
-0.82, and they are complements.
D.
0.82, and they are substitutes.
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