The future super bowl winners, the LA Dodgers, will be selling a lot of apparel after the eventual, but obvious win on November 3, 2019. The apparel sold will depend on one thing: the income of the fan (Although, I'm not sure who would not want to be a dodger fan, but people do weird things...). The following function provides you with the demand for apparel which, self-proclaimed "super fan" Josh. Apparel sold 0.05 x Income P a) How much apparel should Josh, who makes $21,000 buy? (if you answer all his money, you would be right and earn my respect, but you would be wrong for the assignment) b) How much would Josh purchase if he made $120,000 in dodgers apparel?, c) How much in percent will Josh purchase out of his income of Dodgers gear? d) If Josh makes no income, will he still purchase gear?, How much?
The future super bowl winners, the LA Dodgers, will be selling a lot of apparel after the eventual, but obvious win on November 3, 2019. The apparel sold will depend on one thing: the income of the fan (Although, I'm not sure who would not want to be a dodger fan, but people do weird things...). The following function provides you with the demand for apparel which, self-proclaimed "super fan" Josh. Apparel sold 0.05 x Income P a) How much apparel should Josh, who makes $21,000 buy? (if you answer all his money, you would be right and earn my respect, but you would be wrong for the assignment) b) How much would Josh purchase if he made $120,000 in dodgers apparel?, c) How much in percent will Josh purchase out of his income of Dodgers gear? d) If Josh makes no income, will he still purchase gear?, How much?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The future super bowl winners, the LA Dodgers, will be selling a lot of apparel after the eventual, but obvious win on
November 3, 2019. The apparel sold will depend on one thing: the income of the fan (Although, I'm not sure who would
not want to be a dodger fan, but people do weird things...). The following function provides you with the demand for
apparel which, self-proclaimed "super fan" Josh.
Apparel sold 0.05 x Income
a) How much apparel should Josh, who makes $21,000 buy? (if you answer all his money, you would be right and earn my
respect, but you would be wrong for the assignment)
b) How much would Josh purchase if he made $120,000 in dodgers apparel?
c) How much in percent will Josh purchase out of his income of Dodgers gear?
d) If Josh makes no income, will he still purchase gear?.
How much?
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