Principles of Macroeconomics with Connect Access Card with LearnSmart
Principles of Macroeconomics with Connect Access Card with LearnSmart
6th Edition
ISBN: 9781259414367
Author: Robert H. Frank, Ben Bernanke Professor, Kate Antonovics
Publisher: McGraw-Hill Education
Question
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Chapter 1A, Problem 1A.1CC
To determine

Estimate the value of monthly bill.

Expert Solution & Answer
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Explanation of Solution

If telephone charges are $5 per month plus 10 cents for long distance calls, then the equation for monthly telephone bill can be written as follows:

Bill=5+0.1(T)        (1)

If time (T) is 45 minutes of long distance, then the monthly bill can be calculated as follows:

Substitute the value of T in Equation (1).

Bill=5+0.1(T)=5+0.1(45)=5+4.5=9.5

Thus, the value of the monthly bill is $9.5.

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Chapter 1A Solutions

Principles of Macroeconomics with Connect Access Card with LearnSmart

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