MICROECONOMICS(LL)COMPANION
21st Edition
ISBN: 9781260713541
Author: McConnell
Publisher: MCG
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Chapter 1.A, Problem 1AP
Subpart (a):
To determine
To determine: The relationship between the given variables.
Subpart (b):
To determine
To determine: The relationship between the given variables.
Subpart (c):
To determine
To determine: The relationship between the given variables.
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Students have asked these similar questions
3. Suppose you won $15 on a lotto ticket at the local 7-Eleven
and decided to spend all the winnings on candy bars and
bags of peanuts. Candy bars cost $0.75 each while bags of
peanuts cost $1.50 each. LO1.5
a. Construct a table showing the alternative combinations
of the two products that are available.
b. Plot the data in your table as a budget line in a graph.
What is the slope of the budget line? What is the oppor-
tunity cost of one more candy bar? Of one more bag of
Demand: Thinking Like a Buyer End of Chapter Problem
Uber Eats, a food delivery service, has recently expanded to
your area. The accompanying table contains the number of
deliveries per month that you demand at various delivery
prices.
a. Use this information to plot your individual demand curve.
Drag each point on the graph to the point that corresponds
with the information presented in the table.
Price ($)
14
13
12
11
10
9
8
7
6
LO
5
4
3
2
Price
Individual demand
$10
$7
$5
$4
$2
$1
Deliveries
(meals per month)
2
4
5
8
10
12
What happens to the budget line if the government applies a specific tax of $1 per
gallon of gasoline but does not tax other goods (assuming that the consumer will
still buy more than 10 gallons per week)? What happens to the budget line if the
tax applies only to purchases of gasoline in excess of 10 gallons per week?
1.) Use the line drawing tool to draw new budget constraint with the gasoline tax
on all gallons of gasoline. Label this line 'L²₁
2.) Use the multipoint curve drawing tool to draw the new budget constraint when
the gasoline tax applies only to purchase of gasoline in excess of 10 gallons per
week. Label this line 'L³¹. (Note: Be sure to draw the entire budget constraint,
starting at a quantity of 0).
Carefully follow the instructions above, and only draw the required objects.
All other goods, Units per week
10
Gasoline, Gallons per week
L¹
Q
After plotting the final point of your multipoint curve, press the Esc key on your
keyboard to end the line.
Chapter 1 Solutions
MICROECONOMICS(LL)COMPANION
Ch. 1.2 - Prob. 1QQCh. 1.2 - Prob. 2QQCh. 1.2 - Prob. 3QQCh. 1.2 - Prob. 4QQCh. 1.A - Prob. 1ADQCh. 1.A - Prob. 2ADQCh. 1.A - Prob. 3ADQCh. 1.A - Prob. 1ARQCh. 1.A - Prob. 2ARQCh. 1.A - Prob. 1AP
Ch. 1.A - Prob. 2APCh. 1.A - Prob. 3APCh. 1.A - Prob. 4APCh. 1.A - Prob. 5APCh. 1.A - Prob. 6APCh. 1.A - Prob. 7APCh. 1.A - Prob. 8APCh. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Prob. 5DQCh. 1 - Prob. 6DQCh. 1 - Prob. 7DQCh. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - Prob. 10DQCh. 1 - Prob. 11DQCh. 1 - Prob. 1RQCh. 1 - Prob. 2RQCh. 1 - Prob. 3RQCh. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 1PCh. 1 - Prob. 2PCh. 1 - Prob. 3PCh. 1 - Prob. 4PCh. 1 - Prob. 5PCh. 1 - Prob. 6PCh. 1 - Prob. 7PCh. 1 - Prob. 8P
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Similar questions
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