EBK ECONOMICS: PRINCIPLES AND POLICY
13th Edition
ISBN: 8220100605932
Author: Blinder
Publisher: Cengage Learning US
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Chapter 5.A, Problem 2TY
(a)
To determine
Construct an indifference curve and how many Tacos and Hot Dogs will be consumed when the income is $100.
(b)
To determine
Construct an indifference curve and how many Tacos and Hot Dogs will consume when the income is $150.
(c)
To determine
Construct an indifference curve and how many Tacos and Hot Dogs will be consumed when the price of Tacos increased to $3 from $2.
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The table below shows the marginal utility from consuming mini pizzas and sodas. If pizzas and soda are the only goods and the price of a mini pizza is $1 and the price of a soda is $.50, how many of each will maximize utility if you have $4 for lunch?
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EBK ECONOMICS: PRINCIPLES AND POLICY
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