Answered: 4. Which combinations of burritos and…

4. Which combinations of burritos and sodas are unaffordable--those to the left of the line in the graph or those above the line in the graph? Why?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter11: Marketing And Distribution

Section: Chapter Questions

Problem 11AA

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Question

4. Which combinations of burritos and sodas are unaffordable--those to the left of the line
in the graph or those above the line in the graph? Why?
5. Which combinations would leave some budget unspent - those to the left of the line in
the above graph or those to the right of the line in the above graph?
6. What is the equation for the student's budget constraint? In your equation, use Q1 as the
variable to represent the quantity of burritos and Q2 to represent the quantity of sodas.
7. What is the opportunity cost of a burrito?
8. What is the opportunity cost of a soda?

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