Marie-Louise has an income of $10 to buy peanuts and popcorn. The price of a bag of peanuts is $1 and the price of a bag of popcorn is $2. What is Marie-Louise's real income in terms of popcorn? Select one: A. 1/2 bag of popcorn B. 5 bags of popcorn C. $2 per bag of popcorn D. 2 bags of popcorn E. 10 bags of popcorn
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Marie-Louise has an income of $10 to buy peanuts and popcorn. The
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- Janelle spends all of her income on songs from iTunes ($1 each) and apps ($5 each) for her iPhone. If she makes her best affordable choice, she purchases 20 songs and 4 apps, what is her real income in terms of apps?Question 34 Stephanos spends all of his $500 allowance on slices of pizza and gas for his pickup truck. He spends eighty percent of this on pizza and the rest on gas. Because of a shortage of gas, the price of gas increases by 40%. This makes his consumption of gas (measured in gallons) fall by 20%. If he keeps spending all his money on pizza and gas, what is the percentage change in his consumption of pizza (measured in slices)? does not change 2% increase 3% decrease 4% increase 1% decreaseThe residents of Vegopia spend all of their income oncauliflower, broccoli, and carrots. In 2020, they spenda total of $200 for 100 heads of cauliflower, $75 for50 bunches of broccoli, and $50 for 500 carrots. In 2021,they spend a total of $225 for 75 heads of cauliflower,$120 for 80 bunches of broccoli, and $100 for 500 carrots.a. Calculate the price of one unit of each vegetable ineach year.b. Using 2020 as the base year, calculate the CPI foreach year.c. What is the inflation rate in 2021?
- Explain the impact of the change in consumer's income on the demand of goods and services.Assume that dusty has $30 in income, the price of a loaf of bread is $1.50, and the price of a jar of peanut butter is $3. Dusty can buy a maximum of _________ loaves of bread or a maximum of ________jars of peanut butter.Assume that a college student spends her income on books and pizza. The price of a pizza is $8.00, and the price of a book is $15. If she has $100 of income, she could choose to consume
- Suppose that the consumption basket consists of gasoline, mugs, and movies. In the base month, consumers buy 20 litres of gasoline at $2 per litre, 2 mugs for $13 each, and 4 movie tickets for $7 each. In the next month, the price of gasoline is $2.25 per litre, mugs cost $12.50 each, and the price of a movie ticket is $7.50. The change in the consumer price level from the first to the second month is ______. a. –6%b. 6.4%c. 94%d. 1.1%Jeremy has a monthly income of $60. He spends his money making telephone calls (good ?, measured in minutes) at a price of ?? and on other composite good ?, whose price has been normalized to one, meaning ?? = $1. His mobile phone company offers him two plans: plan A, in which he pays no monthly fee and makes calls for $0.50 per minute, or plan B, in which he pays a $20 monthly fee and benefits from cheaper phone calls at $0.20 per minute.(a) Depict Jeremy’s budget constraint under each of the two plans, with the number of phone calls (good ?) in the horizontal axis and the composite good (good ?) in the vertical axis. (b) If Jeremy mentioned that plan A is better for him, what is the set of consumption bundles he may purchase if his behavior is consistent with WARP?The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2016, they spend a total of $200 for 100 heads of cauliflower, $75 for 50 bunches of broccoli, and $50 for 500 carrots. In 2017, they spend a total of $225 for 75 heads of cauliflower, $120 for 80 bunches of broccoli, and $100 for 500 carrots. a. Calculate the price of one unit of each vegetable each year. b. Using 2016 as the base year, calculate the CPI for each year. c.What is the inflation rate in 2017?
- Suppose Matt’s income is $120. He plans to spend it on two goods bread and avacado. Prices are: Pb = $4 per loaf of bread, Pa = $1 per avocado If Matt spends all his income on loafs of bread, how many does he buy? If Matt spends all his income on avocadoes, how many does he buy? If Matt buys 10 loaf of bread, how many avocados can he buy? Plot each of the bundles from parts A – C on a graph that measures avocadoes on the horizontal axis and loaves of bread on the vertical axis, connect the dots to find Matt’s budget constraint. Show what happens to the budget constraint if his income falls to $100, (prices do not change). Show what happens to the budget constraint if price of avocado rises to Pa = $2 per avocado, (income and price of loaves of bread did not change).The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2016, they spend a total of $200 for 100 heads of cauliflower, $75 for 50 bunches of broccoli, and $50 for 500 carrots. In 2017, they spend a total of $225 for 75 heads of cauliflower, $120 for 80 bunches of broccoli, and $100 for 500 carrots. -Calculate the price of one unit of each vegetable in each year. -Using 2016 as the base year, calculate the CPI for each year. -What is the inflation rate in 2017? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.If household spend $105 billion on goods and $95 billion on services. How much in revenues do businesses receive in the product market?
