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If 2 tacos and 3 drinks cost $12, and 3 tacos and 2 drinks cost $13, how much does a taco cost?
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- Marie has a weekly budget of $24, which she likes to spend on magazines and pies. If the price of a pie is $12, what is the maximum number of pies she could buy in a week?Marie has a weekly budget of $24, which she likes to spend on magazines and pies. 1) If the price of a magazine is $4 each, what is the maximum number of magazines she could buy in a week? 2) If the price of a pie is $12, what is the maximum number of pies she could buy in a week?Suppose you go to a restaurant and buy an expensive meal. Halfway through, despite feeling quite full, you decide to clean your plate. After all, you think, you paid for the meal, so you are going to eat all of it. What’s wrong with this thinking?
- Marie has a weekly budget of $24. Pie's are $12. Magazine's are $4. What is the maximum number of pies Marie can buy in a week? What is the maximum number of magazines Marie can buy in a week?Marie has a weekly budget of $24, which she likes to spend on magazines and pies. If the price of a magazine is $4 each, what is the maximum number of magazines she could buy in a week? If the price of a pie is $12, what is the maximum number of pies she could buy in a week? What is Marie’s opportunity cost of purchasing a pie? At the start of the week, Marie decides to buy a pie. Does this imply that the utility she receives from this pie is greater than or less than her opportunity cost of purchasing the pie? Marie is thinking about purchasing a second pie. Do we expect the marginal utility she receives from the second pie to be greater than, less than, or equal to the marginal utility she receives from the first pie? Explain your answer.Do you think the model of consumer equilibrium describes how people really make the decisions on what to order to in a restaurant to maximize their utility? Is there a better model to measure consumer choice?
- Solve all the Questions:- Harold lives on Doritos and seafood salads. The price of Doritos is 1 dollar per bag and the price of seafood salads is 2 dollars each. Harold allows himself to spend no more than 11 dollars a day on food. He also restricts his consumption to 6,500 calories per day. There are 1,500 calories in a bag of Doritos and 500 calories in a seafood salad. If he spends his entire money budget each day and consumes no more calories than his calo-rie limit, he can consume up to a. 5 bag of Doritos per day but no more. b. 1 bag of Doritos per day but no more. c. 4 bag of seafood salad per day but no more. d. 3 bag of Doritos per day but no more. Quincy lives on pretzels and seafood salads. The price of pretzels is 1 dollar per bag and the price of seafood salads is 2 dollars each. Quincy allows himself to spend no more than 14 dollars a day on food. He also restricts his consumption to 3,400 calories per day. There are 600 calories in a bag…Jia is considering whether to go out to dinner at a restaurant with her friend. The meal is expected to cost $40, Jia typically leaves a 20% tip, and an Uber will cost $5 each way. Jia values the restaurant meal at $25. Jia enjoys her friend s company and is willing to pay $30 just to spend an evening with her.Do consumers always make rational consumer decisions when buying economic goods?
- “Owen saw that the price of peaches had gone down, and so he decided to buy more peaches.” Based on this information, what does Owen's reaction reflect? Explain.Q15.) Answer each question. Marie has a weekly budget of $24, which she likes to spend on magazines and pies. The price of a pie is $12 1.) If the price of a magazine is $4 each, the maximum number of magazines she could buy in a week is ___. 2.) If she buys 1 pie the number of magazines she can buy in a week is ____. 3.) What is her S opportunity cost of purchasing a pie? ___ 4.) If Marie's weekly budget is $24, which she likes to spend on magazines and pies, and If the price of a pie is $12 each, what is the maximum number of pies she could buy in a week? ___The marginal benefit Claire gets from purchasing a third pair of flip-flops is a) the same as the total benefit of purchasing three pairs of flip-flops. b) more than the marginal cost of purchasing the third pair of flip-flops. c) the total benefit Claire gets from purchasing three pairs of flip-flops minus the total benefit she gets from purchasing two pairs of flip-flops. d) the total benefit Claire gets from purchasing four pairs of flip-flops minus the total benefit she gets from purchasing three pairs of flip-flops.
