Homework Answers
Budget for monkeys and unicycle = 8* 135 = 1080
If price of unicycle increases to 270, he can buy 1080/270 = 4 unicycle and his budget constraint looks as follows :
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Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to...
ent Score: 0% Resources Hint Check Answer of 16 > Mauricio has a circus act that...
ent Score: 0% Resources Hint Check Answer of 16 > Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys. The graph shows Mauricio's initial budget constraint. The price per unicycle is $120 and per monkey is $90. Using the graph, show what happens to Mauricio's budget line when the price of unicycles increases to $180. What is Mauricio's budget for monkeys and unicycles? Quantity of unicycles Mauricio's budget:...
hp?id 6948398 Jumpto ⑦ JacquelynSa cher . ge-ECON 2301 . Pri ciples of Macroeconomics . Sprng1.9...
hp?id 6948398 Jumpto ⑦ JacquelynSa cher . ge-ECON 2301 . Pri ciples of Macroeconomics . Sprng1.9 ROMa0 Activities and Due Dates) ch. 2 ห O Assignment Scores 1190/2000 Check Answer Question 1 of 20 Mauricio has a circus act, and he has a budget of $720 to spend on monkeys and unicycles. The cost of a unicycle is $120, and the cost of a monkey is $90. Please graph Mauricio's budget constraint on the graph 8 0
A student has a monthly budget of S120 to spend on either burritos, which cost $6...
A student has a monthly budget of S120 to spend on either burritos, which cost $6 each, or sodas, which cost S4 each. would leave some budget unspent 5. Which combinations 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...
You are indifferent between spending one hour commuting by bus (xB) or one hour by car...
You are indifferent between spending one hour commuting by bus (xB) or one hour by car (xC). However, the bus averages 30mph (due to frequent stops), while the car averages 60mph. Your utility is expressed in miles commuted, and depends on the hours spent in either vehicle: u = 30xB + 60xC. Draw the indifference curves for u=900, u’=1200 and u’’=1500. A bus ticket costs $3 for a 30 minute ride, so the price for 1 hour of bus is...
Homework (Ch 21) 10. Deriving demand from an indifference map Janet lives in Denver and enjoys...
Homework (Ch 21) 10. Deriving demand from an indifference map Janet lives in Denver and enjoys drinking lattes and eating scones. The price of a latte is held constant at $2 throughout this problem. On the following graph, the purple curves (I and I)) represent two of Janet's indifference curves. The lines BC and BC, show two budget constraints. Points X and Y show Janet's optimum consumption bundles subject to these budget constraints. 20 18 18 14 12 LATTES 10...
A student has a monthly budget of S120 to spend on either burritos, which cost $6...
A student has a monthly budget of S120 to spend on either burritos, which cost $6 each, or sodas, which cost $4 each. 1. What is the largest number of burritos that the student could afford to purchase in one month? 2. What is the largest number of sodas the student could afford to purchase in one month? 3. Draw the student's budget constraint. Put burritos on the x axis and sodas on the y-axis. 20 4. Which combinations of...
10. Deriving demand from an indifference map Beth lives in San Diego and enjoys drinking lattes...
10. Deriving demand from an indifference map Beth lives in San Diego and enjoys drinking lattes and eating scones. The price of a latte is held constant at $4 throughout this problem. On the following graph, the purple curves (I and Is) represent two of Beth's indifference curves. The lines BC and BC, show two budget constraints. Points X and Y show Beth's optimum consumption bundles subject to these budget constraints. ? 20 18 16 14 12 LATTES 10 8...
. A family in Ethiopia has $100 to spend on food and all other goods for...
. A family in Ethiopia has $100 to spend on food and all other goods for the entire year of 2018. The price of food is $2.00 per kilogram (let’s assume that all food is the same). The price of all other goods is $1.00 per unit. Write the equation for the household’s budget constraint for the year, with income on the left-hand side of the equation. Fill in the following chart so that the quantity purchased on each horizontal...
LATTES t 10. Deriving demand from an indifference map Lucia lives in Philadelphia and enjoys drinking...
LATTES t 10. Deriving demand from an indifference map Lucia lives in Philadelphia and enjoys drinking lattes and eating scones. The price of a latte is held constant at $4 throughout this problem. On the following graph, the purple curves (I I2) represent two of Lucia's indifference curves. The lines BC and BC2 show two budget and constraints. Points X and Y show Lucia's optimum consumption bundles subject to these budget constraints. 20 18 16 14 12 10 E LATTES...
Mattie has $24.00 with which to spend on Mountain Dew and Coke. The price of a...
Mattie has $24.00 with which to spend on Mountain Dew and Coke. The price of a 12-pack of Coke is $3.00, the price of a 12-pack of Mountain Dew is $4.80, and Mattie's initial budget constraint (Budget Constraintj) is illustrated in the figure to the right. 32 30 28 26 n 24 Now, suppose Mattie's income increases to $48.00 Use the line drawing tool to graph Mattie's new budget constraint. Label this line Budget Constraint2'. 20 18 Carefully follow the...
ent Score: 0% Resources Hint Check Answer of 16 > Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys. The graph shows Mauricio's initial budget constraint. The price per unicycle is $120 and per monkey is $90. Using the graph, show what happens to Mauricio's budget line when the price of unicycles increases to $180. What is Mauricio's budget for monkeys and unicycles? Quantity of unicycles Mauricio's budget:...
hp?id 6948398 Jumpto ⑦ JacquelynSa cher . ge-ECON 2301 . Pri ciples of Macroeconomics . Sprng1.9 ROMa0 Activities and Due Dates) ch. 2 ห O Assignment Scores 1190/2000 Check Answer Question 1 of 20 Mauricio has a circus act, and he has a budget of $720 to spend on monkeys and unicycles. The cost of a unicycle is $120, and the cost of a monkey is $90. Please graph Mauricio's budget constraint on the graph 8 0
A student has a monthly budget of S120 to spend on either burritos, which cost $6 each, or sodas, which cost S4 each. would leave some budget unspent 5. Which combinations 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...
Homework (Ch 21) 10. Deriving demand from an indifference map Janet lives in Denver and enjoys drinking lattes and eating scones. The price of a latte is held constant at $2 throughout this problem. On the following graph, the purple curves (I and I)) represent two of Janet's indifference curves. The lines BC and BC, show two budget constraints. Points X and Y show Janet's optimum consumption bundles subject to these budget constraints. 20 18 18 14 12 LATTES 10...
A student has a monthly budget of S120 to spend on either burritos, which cost $6 each, or sodas, which cost $4 each. 1. What is the largest number of burritos that the student could afford to purchase in one month? 2. What is the largest number of sodas the student could afford to purchase in one month? 3. Draw the student's budget constraint. Put burritos on the x axis and sodas on the y-axis. 20 4. Which combinations of...
10. Deriving demand from an indifference map Beth lives in San Diego and enjoys drinking lattes and eating scones. The price of a latte is held constant at $4 throughout this problem. On the following graph, the purple curves (I and Is) represent two of Beth's indifference curves. The lines BC and BC, show two budget constraints. Points X and Y show Beth's optimum consumption bundles subject to these budget constraints. ? 20 18 16 14 12 LATTES 10 8...
LATTES t 10. Deriving demand from an indifference map Lucia lives in Philadelphia and enjoys drinking lattes and eating scones. The price of a latte is held constant at $4 throughout this problem. On the following graph, the purple curves (I I2) represent two of Lucia's indifference curves. The lines BC and BC2 show two budget and constraints. Points X and Y show Lucia's optimum consumption bundles subject to these budget constraints. 20 18 16 14 12 10 E LATTES...
Mattie has $24.00 with which to spend on Mountain Dew and Coke. The price of a 12-pack of Coke is $3.00, the price of a 12-pack of Mountain Dew is $4.80, and Mattie's initial budget constraint (Budget Constraintj) is illustrated in the figure to the right. 32 30 28 26 n 24 Now, suppose Mattie's income increases to $48.00 Use the line drawing tool to graph Mattie's new budget constraint. Label this line Budget Constraint2'. 20 18 Carefully follow the...
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