Monthly income on beer and pizza

Assignment Help Macroeconomics
Reference no: EM131239597

Brian works in a factory and spends his monthly income on Beer and Pizza.

Microsoft Word - Econ 104A Homework 2.docx

For all of the following situations, draw Brian's budget set and label the axes and intercepts.

Calculate the slope of the budget line.

  1. Brian's monthly income is $100. The price of beer is $2 and the price of pizza is $4.
  2. The price of beer increases to $2.5 and other things doesn't change.
  3. The government wants to discourage people from alcohol, so they raise the price of beer to $2.5 if you buy 10 or more than 10 beer. The price of beer remain $2 if you buy less than 10. Other things doesn't change.
  4. Brian has a pay raise. Now his monthly income is $150. The prices of beer and pizza doesn't change.

Reference no: EM131239597

Questions Cloud

Describe the impact of making a small increase : The volatility of a certain market variable is 30% per annum. Calculate a 99% confidence interval for the size of the percentage daily change in the variable.
The law of diminishing marginal product holds : A decentralized organizational structure is more likely to further the cause of good strategy execution than is a centralized organization structure. Variable costs will initially increase and then decrease. The law of diminishing marginal product ho..
Participants interact to ensure that goods and services : Identify the three participants in a free business market. Write a brief memo explaining these participants interact to ensure that goods and services are distributed in a manner that satisfies consumers. Your memo should include answers to the f..
Compute the thickness of the petersen graph : Give an example of a 4-regular planar graph and an example of a 4-regular non planar graph.
Monthly income on beer and pizza : Brian works in a factory and spends his monthly income on Beer and Pizza. Microsoft Word - Econ 104A Homework 2.docx For all of the following situations, draw Brian's budget set and label the axes and intercepts.
How would the estimate of the daily volatility be updated : The parameter λ in the EWMA model is 0.9. Suppose that the exchange rate at 4 p.m. today proves to be 1.4950.  - How would the estimate of the daily volatility be updated?
What is the new volatility estimate : Assume that S&P 500 at close of trading yesterday was 1,040 and the daily volatility of the index was estimated as 1% per day at that time. -what is the new volatility estimate?
Determining the cost-minimizing combination : For the life of me I can't figure out the following: Output is produced according to Q=4LK, where L is the quantity of labor input and K is the quantity of capital input. If the price of K is $10 and the price of L is $5, then the cost-minimizin..
Prove that for a planar graph with k components : For which n is Kn planar and for which n is Kn non planar? Make and prove a conjecture.

Reviews

Write a Review

 

Macroeconomics Questions & Answers

  Competitors and new entrants

What strategies that must be considered by company in response to challenges arisen from competitors and new entrants?

  What is the typical firms short-run cost of producing

l. How can you tell that this is not the long-run least cost of producing this level of output m. How would the firm adjust its labor and capital usage to produce this level of output at least cost in the long-run

  What would the changes in attendance would you expect

Movie tickets prices increased by 5% and resulted in a 8% drop in sales. What is the price elasticity of demand? 2. If ticket prices decreased by 5% instead of raising them, what would the changes in attendance would you expect? 3. If a competing cin..

  Does the goal of full employment imply zero unemployment

Does the goal of full employment imply zero unemployment? If not, what types of unemployment would you expect to be present if the economy is at full employment?

  Describe the law of diminishing marginal utility

Explain the law of diminishing marginal utility and Why are there so many more proprietorships than corporations, yet corporations account for so much more of the sales of business firms in the country?

  State the formula for gdp

Suppose a country produces final goods and services with a market value of $100 billion in 2012, but only $90 billion worth of goods and services is sold to domestic and foreign buyers. What is this country's GDP? Explain your answer. State the fo..

  Values of the price level

Assume that the long-run aggregate supply curve is vertical at Y = 3,000 while the short-run aggregate supply curve is horizontal at P = 1.0. The aggregate demand curve is Y = 2(M/P) and M = 1,500. If the economy is initially in long-run equilibri..

  Regarding your price elasticity of demand of apples

Illustrate what can you say regarding your price elasticity of demand of apples

  The real gdp and consumption data for nation b in 1996 is

The real GDP and consumption data for nation b in 1996 is in the following table. The investment is 25 billion, and government purchases is 5 billion, assume nation b has no international trade and tax. Real GDP in billions. 100. 200. 300. 400. 500 6..

  You are between jobs and have decided to relocate to a city

you are between jobs and have decided to relocate to a city east of the mississippi river but you are unsure of what

  Explain how have they implemented the policy changing

Explain how have they implemented the policy changing the "interest rate", changing the reserve ratio, or open market operations. How has this policy impacted you and/or your company.

  Demand schedule for gadgets

Look at the table Demand Schedule for Gadgets. The market for gadgets is dominated by two producers, Margaret and Ray. Each firm can produce gadgets at a marginal cost of $2.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd