MICROECONOMICS >C<
20th Edition
ISBN: 9781308397153
Author: McConnell
Publisher: MCG/CREATE
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Chapter 7.A, Problem 1ADQ
Subpart (a):
To determine
The information embodied in a budget line.
Subpart (b):
To determine
The information embodied in a budget line.
Subpart (c):
To determine
The information embodied in a budget line.
Subpart (d):
To determine
The information embodied in a budget line.
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Q1 please help me quickly!! Your budget is $200. The price of good 1 (x1) is $4 per unit, and that of good 2 (x2) is $3 per unit. Then, the equation for your budget line can be written as
O 5x1 + 3x2 = 200
◎ 4x1 + 3x2 = 200
◎ 4x1+ 4x2 = 200
O 5x1 + 3×2 = 195
Antonio buys five new college textbooks during his first year at school at a cost of
$80
each. Used books cost only
$50
each. When the bookstore announces that there will be a
50
percent increase in the price of new books and a
50
percent increase in the price of used books, Antonio's father offers him $200 extra.
What happens to Antonio's budget line?
1.) Using the line drawing tool, graph Antonio's original budget line. Label this line
L1.
2.) Using the line drawing tool,
then
graph Antonio's new budget line. Label this line
L2.
Carefully follow the instructions above, and only draw the required objects.
Petra has $480 to spend on DVDs and books. Abook costs $24 and a DVD costs $15. [LO 7.2]a. Write an equation for the budget constraint.Let x 5 books. Let y 5 DVDs.b. Use your equation to determine how manybooks Petra can buy if she buys 8 DVDs.
Chapter 7 Solutions
MICROECONOMICS >C<
Ch. 7.1 - Prob. 1QQCh. 7.1 - Prob. 2QQCh. 7.1 - Prob. 3QQCh. 7.1 - Prob. 4QQCh. 7.A - Prob. 1ADQCh. 7.A - Prob. 2ADQCh. 7.A - Prob. 3ADQCh. 7.A - Prob. 1ARQCh. 7.A - Prob. 2ARQCh. 7.A - Prob. 1AP
Ch. 7.A - Prob. 2APCh. 7.A - Prob. 3APCh. 7 - Prob. 1DQCh. 7 - Prob. 2DQCh. 7 - Prob. 3DQCh. 7 - Prob. 4DQCh. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - Prob. 8DQCh. 7 - Prob. 9DQCh. 7 - Prob. 1RQCh. 7 - Prob. 2RQCh. 7 - Prob. 3RQCh. 7 - Prob. 4RQCh. 7 - Prob. 5RQCh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 7P
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