QUESTION 10Jeans5432101 234T-shirts5O 3 pairs of jeans, 1 T-shirtO 2 pairs of jeans, 4 T-shirtsO 2 pairs of jeans, 3 T-shirtsBudget line67 8Referring to the graph, Which of the following consumption bundles is NOT attainable?O 1 pair of jeans, 4 T-shirts

The concept of consumer choice is based on the assumption that consumers would make logical…

QUESTION 10 Jeans 5 4 3 2 0 1 2 3 4 T-shirts 5 Budget line 6 7 8 Referring to the graph, Which of the following consumption bundles is NOT attainable? O 1 pair of jeans, 4 T-shirts 3 pairs of jeans, 1 T-shirt O2 pairs of jeans, 4 T-shirts O 2 pairs of jeans, 3 T-shirts

QUESTION 10 Jeans 5 4 3 2 0 1 2 3 4 T-shirts 5 Budget line 6 7 8 Referring to the graph, Which of the following consumption bundles is NOT attainable? O 1 pair of jeans, 4 T-shirts 3 pairs of jeans, 1 T-shirt O2 pairs of jeans, 4 T-shirts O 2 pairs of jeans, 3 T-shirts

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter7: Consumer Choice And Elasticity

Section: Chapter Questions

Problem 4CQ

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Assume Tom is on budget constraint AC and the price of a hamburger is $4.00. Tom's monthly income is . Tom's monthly budget constraint 40 A OD B 20 Number of hamburoers per month O 80 100 160 O 240 Number of hot dogs per month
Graph is necessary
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Every day Noora spends her lunch money consuming apples, at RO1 each, and Oranges, at RO2 cach. At her current level of consumption, Noora's marginal utility of apples is 12 and her marginal utility of oranges is 18. If she has already spent all of her lunch honeyỹ, how should Noora change her consumption decision tó maximize utility? She should makeʼno changes: she is consuming the utility maximizing Combination ofapplès and oranges. 6) She should increase her apple consumption and decrease her consumption until the marginal utility per dollar is equal for bóth. c. She should decrease hef apple consumption and increase her orange consumpțion until the marginal utility per dollar is equal for both. d. She should increase her apple consumption and increase her orange consumption until the marginal utility is equal for both: orange
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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 2.Q 1.5 1.0 0.5 $50 $10 O $75 $25 0 0.2 0.4 0.6 1.0 1.2 Number of pairs of shoes 0.8
Units of the Good 0 1 5678AWN2 3 4 Total Utility Total Utility of X of Y 0 0 620 1740 1120 3030 1500 3960 1820 4710 2080 5280 2300 5730 2460 6060 2580 6300 For the next 3 questions, assume that an individual consumes two goods X and Y. The total utility (assumed measurable) of each good is independent of the rate of consumption of other goods. The prices of X and Y are, respectively, $20 and $30. If the consumer buys the fourth unit of X the Marginal Utility per Dollar Spent on X is 16 I If the consumer has $210 to spend on X and Y, the utility-maximizing bundle is The minimum budget necessary to move to a higher equilibrium consumption of X and Y is $ unit(s) of X and unit(s) of Y.
Tea 50 40 30 20 10 0 Tea 50 40 30 20 10 0 OC OA D Chart A 2 5 10 15 20 25 30 Scones Chart C 5 10 15 20 Tea 25 30 Scones 50 40 30- 20 10 0 Tea 50 40 30 20 10 Chart B 5 10 1 0 5 15 20 25 30 Scones Chart D Look at the figure Budget Lines for Tea and Scones. For months now. Agnes has had $20 per month to spend on tea and scones. The price of each cup of tea and each scone has been $1. Which of the charts shows what will happen to her budget line if the price of a cup of tea falls to $0.50? 10 15 20 25 30 Scones 1 pts
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.
3. Refer to the budget constraint for jeans and T-shirts in the figure below. Which of the following consumption bundles is attainable? 3 pairs of jeans, 1 T-shirt. 2 pairs of jeans, 4 T-shirts. 2 pairs of jeans, 3 T-shirts. 1 pair of jeans, 4 T-shirts.
Please show the curve on the graph along with the plotted points and answer the two cost amounts at the bottom