Allocate between movie tickets and opera tickets

Assignment Help Microeconomics
Reference no: EM13685371

Sarah has $300 to allocate between movie tickets and opera tickets. The price of each opera ticket is $60, and the price of each movie ticket is $6. Her marginal rate of substitution of opera tickets for movie tickets equals 5, regardless of what market bundle she chooses. How many opera tickets does she purchase?

Reference no: EM13685371

Questions Cloud

Linear programming project : Linear Programming Project
Macroeconomic performance over the business cycle : Describe and critically evaluate the use of real GDP and the unemployment rate to track macroeconomic performance over the business cycle. Discuss current data on these variables.
Vertical axis and horizontal axis : Presume Richard has an after-tax income of $500 per week and should spend it all on food or clothing. If food is $5 per pound and clothing is $20 per piece, draw his budget line on a piece of graph paper, where the amount of food is gauged along the ..
A social change statement : A social change statement
Allocate between movie tickets and opera tickets : Sarah has $300 to allocate between movie tickets and opera tickets. The price of each opera ticket is $60, and the price of each movie ticket is $6. Her marginal rate of substitution of opera tickets for movie tickets equals 5, regardless of what mar..
Regional general manager at apex rent : Mr. Lear is concerned that Apex might lose this disappointed
Describe the impact of a change in slope of phillips curve : Describe the impact of a change in the slope of the Phillips Curve on the AD curve, the SRAS curve, and the LRAS curve.
Tax reduction can be utilized as expansionary fiscal policy : According to chapter 16, which deals with fiscal policy, a tax reduction can be utilized as an expansionary fiscal policy tool to expand the economy. Do you believe in a tax reduction for large corporations?
Possible disadvantage to consumers of using the internet : Explain two possible advantages and one possible disadvantage to consumers of using the Internet.

Reviews

Write a Review

Microeconomics Questions & Answers

  What will be the price u.s. consumers will pay

The U.S. imposes a quota of 45 million units per month on this good and what will be the price U.S. consumers will pay for the good now?

  In the long run the most helpful action that a

in the long run the most helpful action that a monopolistically competitive firm can take to maintain its economic

  Why the loss on version z

A can manufacturing company produces and sells three different types of cans:Versions X, Y, and Z. A high-level, simplified profit/loss statement for the company is provided here. Corporate overhead(rent, general and administrative expense,etc.) i..

  Conclusion when the null hypothesis cannot be rejected

Chlorine levels are significant for the safety of recreational pools. If the chlorine level falls below 100 ppm, the swimming pool is not considered safe for recreational swimming. Periodically throughout the week, the lifeguard will sample chlorine ..

  Supply and demand concepts

Supply and Demand Concepts

  Find the cross-price elasticity of demand between good x

the demand curve for a product is given by qxd 1200 - 3px - 0.1pz where pz 300. what is the cross-price elasticity of

  What is meant by economics what role does economics play in

what is economics? what role does economics play in your personal and organizational decisions? provide an example of

  Was there significant difference in number of states in

1.what was the mean number of u.s. states in which all of the beer brands were sold in in 2008?2.what was the mean

  What if productivity increases more than nominal wages

If nominal wages and productivity increase by the same amount throughout the macroeconomy, would you expect aggregate supply to increase, decrease, or stay the same What if productivity increases more than nominal wages

  The economy is experiencing a contraction recessionary gap

the economy is experiencing a contraction recessionary gap of 400 billion. what government spending stimulus would you

  Are net exports usually rising or falling for the country

for each year calculate the percentage change in the exchange rate and in net exports. are net exports generally rising

  Computed at an annual percentage interest rate

All loans shall be computed at an annual percentage interest rate

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