Agatha has a weekly allowance that she spends on candy bars and fidget toys. She can just afford four fidgets and three candy bars with all of her money. She can also just afford nine candy bars and two fidgets. The price of a candy bar is $2.40. What is Agatha's weekly allowance? $ 36.00 Graph her budget line below by using the point tool to plot the two points given and then using the straight-line tool to show the line. To refer to the graphing tutorial for this question type, please click here.

Q: Theodore's budget line has changed from A to B. Which of the following explains the change in…

A: Budget line shows combinations of two goods that can be bought with given level of income

Q: Anna is a Vancouverite who starts off her day drinking either a coffee or a bubble tea. From her…

A: Given data: The total income = P15 The price of coffee = P1 The price of bubble tea = P1

Q: Julio receives utility from consuming food (F) and clothing (C) as given by the utility function…

A: Using a utility maximization strategy, people and businesses aim to get the most out of their…

Q: Caroline spends her money on movie tickets and concert tickets. Last summer, the price of concert…

A: Caroline spends her money on movie tickets and concert tickets. Last summer. the price of concert…

Q: Kimiko is planning a party to celebrate her birthday. She has decided to serve sushi and yakıtori…

A: A Budget is defined as the estimation of the revenue and expenses for a specified period of time. It…

Q: In the diagram, Tanisha originally selects her consumption bundle at point A with 3 pounds of olives…

A: The theory of demand says that with an increase in price the demand for the commodity falls. Thus,…

Q: Douglas allocates his budget of $24 per week to 3 goods, cereal, books and clothing. Use the table…

A: Utility is maximised at a point where marginal utility per dollar for all the goods are equal.

Q: Suppose that initially, bread is $2 per loaf, and cake is $2 per slice. Marie Antoinette has $18 to…

A: The substitution effect is given by the change in consumption of bread between the initial and…

Q: Enumerate at least five interpretations of the graph of the Total Utility curve

A: Total utility: It is the total amount of utility that will be achieved by the consumers by consuming…

Q: Suppose the marginal utility for a $5 submarine sandwich is 100. In addition, the marginal utility…

A: When an individual has two goods to consume, his utility Maximizing situation is when he is getting…

Q: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per unit are: PF =…

A: Budget constraints refer to the mathematical expression that gives an overview of an individual’s…

Q: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per unit are: PF =…

A: (g) The opportunity cost of getting one piece of clothing would be  400100=4 units of food, which…

Q: The graph shows two budget lines and six consumption points (A, B, C, D, E, and F) for Pepsi and Dr…

A: A normal good is whose consumption increases with an increase in income and decreases with a…

Q: Julio receives utility from consuming food (F) and clothing (C) as given by the utility function…

A: In a market, utility Maximizing level with two products is where ratio of marginal utility of two…

Q: Emi’s available income each week for expenditures on food (F) and clothing (C) is $40. The price of…

A: 1)Within Emis consumption possibilities 5*2=10 3*10=30 10+30=40 It would lie on her budget line.

Q: Linda loves buying shoes and going out to dance. Her utility function for pairs of shoes, S, and the…

A: a. The budget line is the graphical representation of the different combinations of the two goods…

Q: Cathy has $240 to spend on cherry and/or coconuts. Suppose you have drawn her budget line for cherry…

A: Budget line shows different combinations of two goods that can be bought with the given level of…

Q: A consumer spends all his income (in equilibrium) to purchase 50 units of x and 20 units of y when…

A: Budget line(BL): - it is the graphical representation of different combinations of two goods that a…

Q: Assume that Inayah’s consumption of milk and cookies give her following level of utility: Quantity…

A: Equilibrium condition is when the Marginal utility per Rupee value is the same across all goods.

Q: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per unit are: PF =…

A:

Q: Total utility is the addition of all the marginal utilities that an individual derives from…

A: The want satisfying power of a commodity is called utility. As per Marshallian theory of consumer,…

Q: Suppose the price of a donut is $2.50, the price of a cinnamon roll is $3.20, and the budget is $50.…

A: Budget line: A budget line depicts a consumer's maximum demand at a specified income level. If there…

Q: Raymond consumes meatloaves and pineapples. He has decided that his monthly budget will be $1500.…

A: A budget line illustrates the combinations of two goods that are affordable to a consumer with a…

Q: Dave currently consumes 10 hot dogs and 6 sodas each week. At his current consumption basket, his…

A: Marginal utility is the utility gained when an additional unit of a good is consumed. Ina two goods…

Q: Suppose a consumer has a budget for fast-food items of $60 per week and spends this money on two…

A: Budget line shows the different combinations of goods that a consumer can purchase with the given…

Q: At last time you have answered my question ,but I still have some problems want to ask you and there…

A: To understand the concepts of the Indifference Curve and Budget Line, let us first understand the…

Q: Mike is a jellyfish wrangler.  In June and July he spent his budget on fish tanks and wet suits.…

A: Marginal Utility: - marginal utility is the utility derived by the consumption of an additional…

Q: Examine the graph below to answer the following question regarding "substitution and income effects"…

A: The budget line is a straight line that shows the possible attainable combination of two goods that…

Q: Given that Rhumbi's budget line is 25=1/4 Cake +Tea and the price of tea is R10. What is Rhumbi's…

A: The budget line is the maximum amount of income which the consumer can spent on both the goods while…

Q: Inayah is a rational consumer who consumes milk and cookies only from her monthly income of Rs.…

A: Answer: Given, Total income = Rs.1,500 Price of milk = Rs.500 per liter Price of a pack of cookie =…

Q: For Rs. 1000, how much bananas and oranges one can buy? if the price of one orange Rs. 20 and the…

A: Consumption bundles refer to the  combination of goods that consumer may choose to consume.

Q: Alex distributes his monthly income of $600 between two goods, movies and food. By spending his…

A: here we calculate the budget line of Alex by using the given information and choose the correct , so…

Q: Marie has a weekly budget of $2400, which she likes to spend on magazines and pies. If the price of…

A: Income=$2400 Price of Magazine= $40 Price of pie= $120

Q: You consume only soda and pizza. One day, the price of soda goes up, the price of pizza goes down,…

A: The curve that depicts various quantities of goods being demanded by individuals at different price…

Q: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per unit are: PF =…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: Refer to the information provided in Figure below to answer the question that follow. Molly's montly…

A: Ques 1) We have the following information : Molly's income = 75  Price of DVD = 3 Price of CD = 5

Q: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per unit are: PF =…

A: Budget line is a line showing various combinations of two goods that a consumer can purchase by…

Q: During calamities, such as typhoons, fires, or the ongoing pandemic, the government provides…

A: A budget line depicts the combinations of two commodities that a consumer can consume given a budget…

Q: Suppose the price of a donut is $2.50, the price of a cinnamon roll is $3.20, and the budget is $50.…

A: The budget line represents the combination of the two goods that can be purchased with the given…

Q: Linda loves buying shoes and going out to dance.  Her utility function for pairs of shoes, S, and…

A: Utility Function: U(S,T) = 2ST Income = $500 Price of Shoes =$50 Dancing Costs =$50   Question 1:…

Revealed Preferences and Budget Constraint Analysis

Revealed means “Let Out,” and Preference means “Choice”; Choice Reveals Preference.