°Pizzan452♡B41990 1 2 3 4 5 6 7 8 9 10BurgersPlease refer to the graph above.A human goes to the market and must decide between buying Pizzas or Burgers for their meal.Their budget is $181. The price of a burger is $18. What is the estimated price of a pizza?about $40O about $10O about $30O about $20

Step 1: Step 2: Step 3: Step 4:

Answered: ° Pizzan 4 5 2 ♡ B 4 199 0 1 2 3 4 5 6…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assignments for Macroeconomics Econ 2202 Assignment 1 Chapter 1 and 2 1. What is the opportunity cost of Bananas in terms of Tacos? 2. What if the price of Tacos decreased to $0.50, what happens to the quantity of Tacos consumed given a $5 Budget? Bananas Tacos $0.50 $1 Budget $5.00 Bananas Tacos 2 4 3. 4. 3 2 8 1 9 10 Study Hours Psycholo Psycholo | Economi Economi cs gy 100 cs gy 4. 65 95 80 87 88 3. 77 94 1 4. 65 96 3. What is the Opportunity Cost of studying 3 hours for Economics (Increasing the study time in Economics from 2 hours to 3 hours). woul! be
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Assume that a consumer has a given budget or income of $12 and that she can buy only two goods, apples or bananas. The price of an apple is $2.00 and the price of a banana is $1.00. If the consumer spent all of her budget on just apples or just bananas, how many apples or bananas maximum would she be able to buy? Multiple Choice 4 apples or 8 bananas о 12 apples or 6 bananas О 6 apples or 12 bananas 5 apples or 10 bananas
2. Shifts in a budget constraint Nick brings $25 to a baseball game to spend on sodas and pizza. The following diagram shows his budget constraint: SLICES OF PIZZA 10 9 8 7 CO 50 4 3 2 1 0 0 1 + 2 3 4 BC 5 SODAS According to the diagram, sodas cost $ 6 + 7 + 8 9 10 each, and pizza costs $ BC ? per slice. Adjust the diagram to show how Nick's budget constraint would change if he had brought less money to the ballpark. (Assume the prices of sodas and pizza remain the same.) Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
(Table: Optimal Choice of Yogurt and Cheese) Use Table: Optimal Choice of Yogurt and Cheese. The price of yogurt is $2 per unit, and the price of cheese is $4 per pound. Hailey's income is $16. If she spends all of her income on cheese, the most she can buy is pounds of cheese, and her total utility will be Table: Utility from Yogurt and Cheese Number of yogurts 0 1 2345678 O O O 8; 240 4; 22 6; 204 4; 152 Total utility for yogurt 0 32 60 84 104 120 132 140 144 Pounds of cheese 0 1 2 3 4 5 6 7 8 Total utility for cheese 0 44 84 120 152 180 204 224 240
Question 25 Burritos 9 8 16500 7 4 321 1 2 3 4 5 10 7 Salads The graph shown represents Sophia's budget constraint. If the price of salads is $5, what is Sophia's budget? O $25 O $5 This question cannot be answered without more information. $40
Вooks E 20 CDs Refer to the Figure. If the price of a CD is $10, then what is the consumer's income? O $2 O $20 O $200 O S0.50 8.
10. Suppose tangerines are an inferior good. This means that if your income tangerines. decreases, you will buy (more/fewer)
. TOTAL AND MARGINAL UTILITY E UTILITY CALCULATIONS Reset Total Utility Quantity Consumed Total Marginal Utility 70 Utility 60 50 22 40 1 22 30 18 20 2 40 10 14 3 4 6 8 3 54 Quantity Consumed Marginal Utility 10 20 4 64 6. 10 70 4 6. -10 72 -20 -2 Quantity Consumed 70 Quantity Consumed -6 8 64 2. 4 6 8
(Table: Marginal Utility per Dollar of Twix) Use Table: Marginal Utility per Dollar of Twix. The price of Twix is $2 per bar. If the price of Twix increases to $3 per bar, the marginal utility per dollar for each bar of Twix will: Table: Marginal Utility per Dollar of Twix Bars Quantity of Twix bars Total utility 10 0 1 6 2 10 3 13 15 16 5 O remain constant. O increase O decrease. O fluctuate randomly.
The nearby graph shows Claudia's budget constraint for purchases of shoes and purses. Claudia's monthly budget for shoes and purses is $100. Claudia's parents have told her that she has too many shoes and is not allowed to buy more than 1 pair a month. If she buys 1 pair of shoes and 1 purse, she will have $_________ left each month. Number of 4.5 purses 4.0 3.5 3.0 2.5 O $50 O $10 O $75 O $25 2. A 1.5 1.0 0.5 0 0.2 0.4 0.6 0.8 1.0 1.2 Number of pairs of shoes

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