Suppose you won $50 on a lotto ticket and decided to spend all the winnings on...
Homework Answers
Add Answer to:
Suppose you won $50 on a lotto ticket and decided to spend all
the winnings on...
HOMEWORK Suppose you won $50 on a lotto ticket and decided to spend all the winnings...
HOMEWORK Suppose you won $50 on a lotto ticket and decided to spend all the winnings on books and DVDs. The price of books is $5 and the price of DVD is $10 (A) Construct a table showing the alternative combinations of the two products (books and DVDs) that are available within your budget. (B) Plot the data in your table as a budget line in a graph. What is the slope of the budget line? What is the opportunity...
Suppose you won $15 on a lotto ticket at the local 7-Eleven and decided to spend...
Suppose you won $15 on a lotto ticket at the local 7-Eleven and decided to spend all the winnings on candy bars and bags of peanuts. Candy bars cost $0.75 each while bags of peanuts cost $1.50 each. a. Complete the table below (gray-shaded cells) showing the alternative combinations of the two products that are available. Instructions: Enter your answers as whole numbers. Alternative Combinations Goods 12 16 20 Candy bars Bags of peanuts ok b. Use the data in...
OPPORTUNITY COST & MARGINAL ANALYSIS the follo b. U.S. sonm ent c. 3. Indicate whether each...
OPPORTUNITY COST & MARGINAL ANALYSIS the follo b. U.S. sonm ent c. 3. Indicate whether each of the following statements applies to microeconomics or macroeconomics: The unemployment rate in the United States was 4.1 percent in January 2018. A U.S. software firm discharged 15 workers last month and transferred the work to India. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise. U.S. output, adjusted for inflation, decreased by 2.4 percent...
Suppose that you initially have $100 to spend on books or movie tickets. The books start...
Suppose that you initially have $100 to spend on books or movie tickets. The books start off costing $25 each and the movie tickets start off costing $10 each. For each of the following situations, would the attainable set of combinations that you can afford increase or decrease? a. Your budget increases from $100 to $150 while the prices stay the same: Cick to selecto b. Your budget remains $100, the price of books remains $25, but the price of...
Reference: Ref 6-15 Bottled Water Quantity Total Utility Bags of Chips Quantity Total Utility 1 2...
Reference: Ref 6-15 Bottled Water Quantity Total Utility Bags of Chips Quantity Total Utility 1 2 40 70 90 100 106 60 90 105 114 120 2 4 4 29. (Table) In the table, assume that a consumer has a budget of $12, water costs $2 per bottle, and chips cost $3 per bag. When utility is maximized, the MUIP for both goods is: A) 20 B) 5 C) 3. D) 10. 30. Suppose you have $100 to spend on...
2. Suppose Matt has $20 to spend on movies and books. The price of one unit...
2. Suppose Matt has $20 to spend on movies and books. The price of one unit of movie and the price of one unit of book are both $2. Assume movies and books are normal goods. a) Draw Matt’s budget line (Draw Movies on the X-axis). Suppose Matt optimally consumes 6 movies and 4 books. Label this bundle as point A on your graph, and draw the indifference curve associated with this bundle. b) Consider the bundle (5 movies, 5...
The price of DVDs (D) is $20 and the price of CDs (C) is $10. Philip...
The price of DVDs (D) is $20 and the price of CDs (C) is $10. Philip has a budget of $100 to spend on the two goods. Suppose he has already bought one DVD and one CD. In addition, there are 3 more DVDs and 5 more CDs he would like to buy. a. Given the above prices and income, draw his budget line on a graph with CDs on the horizontal axis and correctly identify where is current market...
You just won $2,500 dollars on a scratch-off lottery ticket! You've been interested in investing, so...
You just won $2,500 dollars on a scratch-off lottery ticket! You've been interested in investing, so now is your chance. If you invest that $2,500 for 5 years with a simple annual interest rate of 8%, how much will it be worth at the end of that 5 years? $2.712 $3.100 $3,500 $3,673 Refer to the previous question. If, instead, you could invest your $2,500 lottery winnings for 5 years at an 8% interest rate with compound interest would you...
1.a) What is opportunity cost? (write down the definition) 1.b) You won a free ticket to...
1.a) What is opportunity cost? (write down the definition) 1.b) You won a free ticket to see singer X's concert (which has no resale value). Singer Y is performing on the same night and is your next-best alternative activity. Tickets to see Y cost $40. On any given day, you would be willing to pay up to $50 to see Y. Assume there are no other costs of seeing either performer. Based on this information, what is the opportunity cost...
Suppose you're a Tim Hortons addict and spend all your money on coffee and doughnuts. You...
Suppose you're a Tim Hortons addict and spend all your money on coffee and doughnuts. You have $15 to spend. Doughnuts cost $1 each and coffee costs $1.50/cup. Draw a budget line that reflects this situation. Then show what would happen if the price of coffee fell to $1/cup.
HOMEWORK Suppose you won $50 on a lotto ticket and decided to spend all the winnings on books and DVDs. The price of books is $5 and the price of DVD is $10 (A) Construct a table showing the alternative combinations of the two products (books and DVDs) that are available within your budget. (B) Plot the data in your table as a budget line in a graph. What is the slope of the budget line? What is the opportunity...
Suppose you won $15 on a lotto ticket at the local 7-Eleven and decided to spend all the winnings on candy bars and bags of peanuts. Candy bars cost $0.75 each while bags of peanuts cost $1.50 each. a. Complete the table below (gray-shaded cells) showing the alternative combinations of the two products that are available. Instructions: Enter your answers as whole numbers. Alternative Combinations Goods 12 16 20 Candy bars Bags of peanuts ok b. Use the data in...
OPPORTUNITY COST & MARGINAL ANALYSIS the follo b. U.S. sonm ent c. 3. Indicate whether each of the following statements applies to microeconomics or macroeconomics: The unemployment rate in the United States was 4.1 percent in January 2018. A U.S. software firm discharged 15 workers last month and transferred the work to India. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise. U.S. output, adjusted for inflation, decreased by 2.4 percent...
Suppose that you initially have $100 to spend on books or movie tickets. The books start off costing $25 each and the movie tickets start off costing $10 each. For each of the following situations, would the attainable set of combinations that you can afford increase or decrease? a. Your budget increases from $100 to $150 while the prices stay the same: Cick to selecto b. Your budget remains $100, the price of books remains $25, but the price of...
Reference: Ref 6-15 Bottled Water Quantity Total Utility Bags of Chips Quantity Total Utility 1 2 40 70 90 100 106 60 90 105 114 120 2 4 4 29. (Table) In the table, assume that a consumer has a budget of $12, water costs $2 per bottle, and chips cost $3 per bag. When utility is maximized, the MUIP for both goods is: A) 20 B) 5 C) 3. D) 10. 30. Suppose you have $100 to spend on...
You just won $2,500 dollars on a scratch-off lottery ticket! You've been interested in investing, so now is your chance. If you invest that $2,500 for 5 years with a simple annual interest rate of 8%, how much will it be worth at the end of that 5 years? $2.712 $3.100 $3,500 $3,673 Refer to the previous question. If, instead, you could invest your $2,500 lottery winnings for 5 years at an 8% interest rate with compound interest would you...
1.a) What is opportunity cost? (write down the definition) 1.b) You won a free ticket to see singer X's concert (which has no resale value). Singer Y is performing on the same night and is your next-best alternative activity. Tickets to see Y cost $40. On any given day, you would be willing to pay up to $50 to see Y. Assume there are no other costs of seeing either performer. Based on this information, what is the opportunity cost...
Most questions answered within 3 hours.
-
Rice Products in Bangladesh
Business behavior is derived in large part from the basic cultural
environment...
asked 1 hour ago -
The following base sequence is found for a mRNA fragment from
wild-type E. coli: 5'- UAUCAGUAGAUAAUGUAACC-3'...
asked 1 hour ago -
For this exercise, round all regression parameters to three
decimal places.
One of the two tables...
asked 1 hour ago -
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 1 hour ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 2 hours ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 2 hours ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 6 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 6 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 6 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 7 hours ago -
When a metal rod is heated, not only its resistance but also its
length and cross‐sectional...
asked 7 hours ago -
write a c++ program that computes the L^1 - Norm of a given
vector (L^1 norm...
asked 7 hours ago