Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

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Answer 1

Question

Chapter 13, Problem 2IAPA

To determine

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

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Answer 2

Question

Chapter 13, Problem 2IAPA

To determine

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

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Answer 3

Question

Chapter 13, Problem 2IAPA

To determine

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

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Answer 4

Question

Chapter 13, Problem 2IAPA

To determine

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

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Answer 5

Chapter 13, Problem 2IAPA

To determine

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

Answer 6

Chapter 13, Problem 2IAPA

To determine

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

Answer 7

Chapter 13, Problem 2IAPA

To determine

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 13.A - Prob. 1SPPA Ch. 13.A - Prob. 2SPPA Ch. 13.A - Prob. 3SPPA Ch. 13.A - Prob. 4SPPA Ch. 13.A - Prob. 5SPPA Ch. 13.A - Prob. 1IAPA Ch. 13.A - Prob. 2IAPA Ch. 13.A - Prob. 3IAPA Ch. 13.A - Prob. 4IAPA Ch. 13 - Prob. 1SPPA

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

Solution Summary: The author explains that Tim consumes 2 smoothies and 1 movie, and determines the relative price of a movie ticket. When the movie price falls, Tim can spend more on both goods.

Tim has total income of $16 on smoothies and movie. The price of a movie is $8 and smoothie is $4. Currently he consumes 2 smoothies and 1 movie. Determine the relative price of a movie ticket. IF the price of a movie ticket decreases to $4, how his consumption bundle will change?

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Chapter 13 Solutions