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1. If the price of x triples and the price of y doubles, then the budget line becomes steeper. True or False?
2. The price of bread is $7.5 per kilogram, and the price of butter is $5 per kilogram. Rupert buys 12 kilograms of bread, and his income is $120. How much butter does he buy, assuming that he consumes nothing else than butter and bread? No unit, no rounding.
3. Alan can spend $10 a week on snacks. He likes ice cream, which cost $1 per scoop, and popcorn, which costs 40 cents per bag. All of a sudden, however, his sister Alice starts stealing half of his popcorn every time he buys any. Which of the following statements is true about Alan's budget constraint in a diagram with popcorn on the x-axis?
A videotape store has an average weekly gross of $1,158 with a standard eviation of $120. let x be the stores gross during a normally distributed random variable, then the number of standard deviations
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