Kimiko is planning a party to celebrate her birthday. She has decided to serve sushi and yakıtori meat skewers. Each serving of sushi is $8 and each yakitori is $2. Kimiko has $240 to spend on the party, and her budget line is shown below. Her friend Barry thinks there will not be enough food, so he gives Kimiko $80 more to spend on the party (she now has $320). Show Kimiko's new budget line in the graph below and answer the question. Which good will Kimiko buy more of? 100 She will buy the same amount of both. 90 Only Kimiko knows; the question does not provide 80 enough information. Yakitori skewers because they are cheaper, so they 70 60 offer more bang for her buck. Sushi because she likes it better. 50 40 30 20 10 ВС 20 40 60 80 100 120 140 160 180 200 Quantity of Sushi
Kimiko is planning a party to celebrate her birthday. She has decided to serve sushi and yakıtori meat skewers. Each serving of sushi is $8 and each yakitori is $2. Kimiko has $240 to spend on the party, and her budget line is shown below. Her friend Barry thinks there will not be enough food, so he gives Kimiko $80 more to spend on the party (she now has $320). Show Kimiko's new budget line in the graph below and answer the question. Which good will Kimiko buy more of? 100 She will buy the same amount of both. 90 Only Kimiko knows; the question does not provide 80 enough information. Yakitori skewers because they are cheaper, so they 70 60 offer more bang for her buck. Sushi because she likes it better. 50 40 30 20 10 ВС 20 40 60 80 100 120 140 160 180 200 Quantity of Sushi
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter6: Consumer Choice And Demand
Section6.A: Appendix: Indifference Curves And Utility Maximization
Problem 2AQ
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please help me correct my mistake in this question. Please expain and show work so i may underdtand.
Transcribed Image Text:Kimiko is planning a party to celebrate her birthday. She has decided to serve sushi and yakitori meat skewers. Each
serving of sushi is $8 and each yakitori is $2. Kimiko has $240 to spend on the party, and her budget line is shown below.
Her friend Barry thinks there will not be enough food, so he gives Kimiko $80 more to spend on the party (she now has
$320). Show Kimiko's new budget line in the graph below and answer the question.
Which good will Kimiko buy more of?
100
She will buy the same amount of both.
90
Only Kimiko knows; the question does not provide
80
enough information.
Yakitori skewers because they are cheaper, so they
offer more bang for her buck.
70
60
Sushi because she likes it better.
50
40
30
20
10
BC
20
40
60
80
100
120
140
160
180
200
Quantity of Yakitori
Quantity of Sushi
Expert Solution
Step 1
A Budget is defined as the estimation of the revenue and expenses for a specified period of time. It is mostly utilized by the governments, firms and individuals.
A Budget Line, also known as the Budget Constraint, refers to all the combinations of two commodities which a consumer could afford at the given market prices, given his or her total income.
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