EBK ECONOMICS
EBK ECONOMICS
13th Edition
ISBN: 8220106799642
Author: PARKIN
Publisher: PEARSON
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Chapter 9, Problem 12APA
To determine

Relative price and opportunity cost.

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List and define the different kinds of goods.  Give an example of each
Sara is a teenage artist who has been making paintings based on watercolor, each painting sells for 150 bs and she makes them every week. Sara likes hamburgers and Coca Cola, the price of hamburgers is 20 bs and Coca Cola is 3 bs. Sara would like to consume 3 hamburgers and 6 cokes this week. 1. How useful is this consumer basket? 2. Is the 150 Bs enough to satisfy your tastes? If not enough, how much budget do you need? It asks 1. Graph of the indifference curve and the budget line. 2. curve of the new budget line.
impacts of marginal utility. Imagine that you are a seller of phones: How can you increase the consumer demand curve by helping increase the marginal utility for consumers? Detail specific steps to take and provide examples.
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