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21. Given the following information create a budget line (schedule and graph): Combinations of Movie downloads...
What is likely to happen to the slope of the budget line of movie tickets when:...
What is likely to happen to the slope of the budget line of movie tickets when: (Show work and show graph) a. your income increases from $100 to $150 (4) b. Price of the movie tickets changes from $20 to $26 a ticket
6. What is likely to happen to the slope of the budget line of movie tickets...
6. What is likely to happen to the slope of the budget line of movie tickets when: a. your income increases from $100 to $150 (4) b. Price of the movie tickets changes from $20 to $25 a ticket
ded Quiz //oregons 4 3 2 4 6 8 Q movie tickets Assume Alan's budget constraint...
ded Quiz //oregons 4 3 2 4 6 8 Q movie tickets Assume Alan's budget constraint is demonstrated by line A in the graph shown. Which of the following could cause Alan's budget constraint to change to line B? The price of movie tickets could have increased. O The price of movie tickets could have decreased. O The price of books could have decreased. O The price of books could have increased. MacBook Air FS 4 5
Given the following information, use a single diagram with budget line and indifference curves to model...
Given the following information, use a single diagram with budget line and indifference curves to model a consumer's choices under three scenarios. You will upload this diagram after you finish answering the following questions. It might be helpful to graph Good 1 on the X axis and Good 2 on the Y axis. Slope of a budget line = - price of good 2 / price of good 1. Healthy Meals and Unhealthy Snacks Budget Price of Healthy Meals (Good...
Problem 1 (20). The following table has different combinations of hamburgers and hot dogs that Alex...
Problem 1 (20). The following table has different combinations of hamburgers and hot dogs that Alex can buy Combination Hamburgers Hot dogs A 0 8 B 1 6 C 2 4 D 3 2 E 4 0 Graph Alex’s budget line, putting hot dogs on the X-axis Alex’s income is $8 per day. What is the price of a hot dog? Of a hamburger? What is the slope of the budget line?
Given the graph below, if the consumer’s income decreases, a. The budget line will swing outward...
Given the graph below, if the consumer’s income decreases,
a. The budget line will swing outward (slope will become
shallower).
b. The budget line will swing inward (slope will become
steeper).
c. The budget line will shift out parallel to the old budget
line (the slope will be unchanged).
d. The budget line will shift inward parallel to the old budget
line (the slope will be unchanged).
e. The indifference curves will change shape.
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Using the below information open an excel file and create a Sales Budget, a Schedule of...
Using the below information open an excel file and create a Sales Budget, a Schedule of Cash Receipts, a Production Budget, a Raw Materials Budget, and a Schedule of Cash Dispersments for Raw Materials for Fiwrt for the months of Oct, Nov, and Dec including the quarterly totals. Make sure to use proper format including dollar signs and headers - this will count in the grade. Upload the excel file as your response. Fiwrt Corporation manufactures and sells stainless steel...
The graph shows Tom’s budget line and indifference curve for good x and y. The price...
The graph shows Tom’s budget line and indifference curve for good x and y. The price of good x is $40 . If he uses all of his income on good Y , then 20 units of y will be consumed. If all income is spent on good x then 4 units will be consumed. What is the marginal rate of substitution of good y for x at the point where the indifference curve is tangent to the budget line?
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...
Required information Problem 21-1A Preparation and analysis of a flexible budget LO P1 (The following information...
Required information Problem 21-1A Preparation and analysis of a flexible budget LO P1 (The following information applies to the questions displayed below.) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($60,000 is variable) plant management...
ded Quiz //oregons 4 3 2 4 6 8 Q movie tickets Assume Alan's budget constraint is demonstrated by line A in the graph shown. Which of the following could cause Alan's budget constraint to change to line B? The price of movie tickets could have increased. O The price of movie tickets could have decreased. O The price of books could have decreased. O The price of books could have increased. MacBook Air FS 4 5
Given the graph below, if the consumer’s income decreases,
a. The budget line will swing outward (slope will become
shallower).
b. The budget line will swing inward (slope will become
steeper).
c. The budget line will shift out parallel to the old budget
line (the slope will be unchanged).
d. The budget line will shift inward parallel to the old budget
line (the slope will be unchanged).
e. The indifference curves will change shape.
Drs services Nurses services
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...
Required information Problem 21-1A Preparation and analysis of a flexible budget LO P1 (The following information applies to the questions displayed below.) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($60,000 is variable) plant management...
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