Principles of Macroeconomics 2e
2nd Edition
ISBN: 9781947172388
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 2, Problem 26P
Draw Marie’s budget constraint with pies on the horizontal axis and magazines on the vertical axis. What is the slope of me budget constraint?
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Draw Marie’s budget constraint with pies on thehorizontal axis and magazines on the vertical axis. Whatis the slope of the budget constraint?
Mega Partner is selling two products Marker(m) and Eraser(e) and their budget is given with thefollowing equation: 15Qe+ 30Qm= 3000. Now answer the following questions. I. Draw the budget line for Mega PartnerII. What would be the highest amount spend on Marker with the existing budgetIII. If Total budget increases to 4500 what would be the new budget line (use diagram)IV. If Price of the Marker becomes 15, how this changes the existing budget line keeping allthe values remain same.
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Chapter 2 Solutions
Principles of Macroeconomics 2e
Ch. 2 - Suppose Alphonsos town raised the price of bus...Ch. 2 - Return to the example in Figure 2.4. Suppose there...Ch. 2 - Could a nation be producing in a way that is...Ch. 2 - What are the similarities between a consumers...Ch. 2 - Individuals may not act in the rational,...Ch. 2 - Would an op-ed piece in a newspaper urging the...Ch. 2 - Would a research study on the effects of soft...Ch. 2 - Explain why scarcity leads to tradeoffs.Ch. 2 - Explain why individuals make Choices that are...Ch. 2 - What is comparative advantage?
Ch. 2 - What does a production possibilities frontier...Ch. 2 - Why is a production possibilities frontier...Ch. 2 - Explain why societies cannot make a choice above...Ch. 2 - What are diminishing marginal returns?Ch. 2 - What is productive efficiency? Allocative...Ch. 2 - What is the difference between a positive and a...Ch. 2 - Is the economic model of decision-making intended...Ch. 2 - What are four responses to the claim that people...Ch. 2 - Suppose Alphonsos town raises the price of bus...Ch. 2 - During the Second World War, Germanys factories...Ch. 2 - It is clear that productive inefficiency is a...Ch. 2 - What assumptions about the economy must he true...Ch. 2 - Do economists have any particular expertise at...Ch. 2 - If the price of a magazine is 4 each, what is the...Ch. 2 - If the price of a pie is 12, what is the maximum...Ch. 2 - Draw Maries budget constraint with pies on the...Ch. 2 - What is Maries opportunity cost of purchasing a...
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- alex has a budget of $100 a month for a movie tickets and restaurant meals. A movie ticket will cost $10 and a restaurant meal costs $20. which of the following combinqtions is part of alexs budget constraint?arrow_forwardExplain, Why is the marginal utility curve declining with incresed consumpition of burgers?arrow_forwardSuppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers rises from 2 to 4. Why is file opportunity cost of bus tickets unchanged? Suppose Alphonsns weekly spending money increases from 10 to 20. How is his budget constraint affected from all three changes? Explain.arrow_forward
- Use this information to answer the following 4 questions: Marie has a weekly budget of $24,which she likes to spend on magazines and pies.24. If the price of a magazine is $4 each, what is the maximum number of magazines she couldbuy in a week?25. If the price of a pie is $12, what is the maximum number of pies she could buy in a week?26. Draw Marie’s budget constraint with pies on the horizontal axis and magazines on thevertical axis. What is the slope of the budget constraint?27. What is Marie’s opportunity cost of purchasing a pie? I need help with number 26 and 27.arrow_forwardBriefly outline and explain some of factors that depend on line amount of a commodity a consumer os prepared to buyarrow_forwardJody has $360 to spend on her summer vacation. She decided to use the moneyon trips to the zoo and on tickets to the movies. Her original budget constraintis shown below. Let X represent movie tickets and Y represent trips to the zoo.i. What is the equation of the original budget constraintarrow_forward
- Price per arginal Utility Fron Current Consumption Product Unit $ 10 20 20 30 The table shows the marginal utite derived trom curent consumpton leves of three new products. A B and C at are being sold in the maet at the prces isted The contumer can imniediately gan the most extra total utity by winching spending from Mnple Choce ANEarrow_forwardRaymond consumes meatloaves and pineapples. He has decided that hismonthly budget will be $1500. Suppose that one meatloaf costs $375, while onepineapple costs $150.i. What is the expression for Raymond’s budget constraintarrow_forward. Draw the student's budget constraint. Put burritos on the x-axis and sodas on the y-axis. A student has a monthly budget of $120 to spend on either burritos, which cost $6 each, or sodas, which cost $4 each.arrow_forward
- Write down the equation for the budget constraint and then graph it for .. Px = $100 Py = $25 Income = $5,000.00arrow_forwardKonror panen Sité åna sayfası Takvim Nişanlar Tüm dersler Course dashboard Soru 6 Jane has $500 a week to spend on clothing and food. The price of clothing is $25 and the price of food is $10. What is the equation for Jane's budget constraint? Henüz cevaplanmadı Lütfen birini seçin: 4 üzerinden işaretlenmiş O A. $25 x Clothing + $10 x Food = $500 P Soruyu işaretle O B. $25 x Clothing + $10 x Food 2 $500 O C. $25 x Clothing - $10 x Food $500 O D. ($25 x Clothing)/($10 x Food) = $500 O E. ($25 x Clothing) x ($10 x Food) < $1000 SONRAKİ SAYFA ÖNCEKİ SAYFA cc AYBUZEM ® 'deki ders materyalleri Creative Commons açık lisanslan ile lisanslanmıştır.arrow_forwardAs a college student you work at a part-time job, but your parents also send you a monthly allowance. Suppose one month your parents forgot to send the check. Show graphically how your budget constraint is affected. Assuming you only buy normal goods, what would happen to your purchases of goods?arrow_forward
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