User Account

All Pages

Allowance between gummi bears and chocolate

Assignment Help Microeconomics
Reference no: EM13846552

Pete's a kid and his weekly allowance is $10. He spends his entire allowance between gummi bears and chocolate.

A price of a pound of gummi bears (GB) is $2.50 and the price of a pound of chocolate is $5

A) Graph Pete's consumption possibilities curve (between the amount of gummi bears and chocolate). PLACE GUMMI BEARS ON THE X AXIS

B) Can Pete buy the following combinations of gummi bears (GB) and chocolate (C)?

i) 1.5 pounds of GB and pounds of 1.5C

ii) 2 pounds of GB and pounds of 1C

iii) 3 pounds of GB and pounds of 0.75C

C) What is the opportunity cost of Pete's:

i) first pound of gummi bears

ii) second pound gummi bears

iii) last pound of gummi bears

D) How is Pete's opportunity cost of gummi bears shown in the graph you drew in part A?

Reference no: EM13846552

Questions Cloud

Identify the sample space of the probability : Identify the sample space of the probability
Identify the industry and do a competitive analysis : Come up with a new product brand for a bike powered charger or other valuable sources for natural kinetic energy that can charge mobile devices. Like using the kinectic energy exerted when pedaling. Identify the industry and do a competitive analy..
Custom marketing strategy : Custom Marketing Strategy: What product(s) is valued by each generation: GI Generation, Mature/Silent Generation, Baby Boomer Generation, Gen X, Gen Y/Millennials, and Gen Z/Gen C
Discuss some of enforcement of standards issues of the iasb : Discuss some of the enforcement of standards issues of the IASB that are not existent for the FASB?
Allowance between gummi bears and chocolate : Pete's a kid and his weekly allowance is $10. He spends his entire allowance between gummi bears and chocolate. A price of a pound of gummi bears (GB) is $2.50 and the price of a pound of chocolate is $5
Use the given frequency distribution to find the class width : Use the given frequency distribution to find the Class width
Define both race and ethnicity : 1. Define both race and ethnicity. 2. Define both stereotypes and discrimination.
What tax issue are present in terrys situation : What tax issue(s) are present in Terry's situation? What questions would you ask Terry to determine his appropriate response to the IRS?
Interpretation of the problem or problems : Gather information on the problem and integrate the information from all your sources into an analysis of the central issues in your case. Your writing should focus on problem or problems identification and evidence supporting your interpretation ..

Reviews

Write a Review

Microeconomics Questions & Answers

  On the basis og graphic analysis what do you forecast will

the following events occur simultaneouslyi the price of beef rises beef and leather both come from cows.ii the price of

  Nation with a simple economy that produces only six goods

Artica is a nation with a simple economy that produces only six goods: oranges, bicycles, magazines, paper, orange juice, and hats. Assume that half of all the oranges are used to produce orange juice and one-third of all the paper is used to produce..

  How many crates of grapes will it produce in a typical month

Ascaro incurs monthly total costs according to the function TC= 49+4q+q2 and monthly marginal costs according to the function MC= 4+2q, where q is the quanity of grapes produced bu Ascaro.

  Describe supply and demand from a microeconomics

Explain concepts of microeconomics Describe supply and demand from a microeconomics perspective Interpret various forms of competition Describe government policies on competition Explain market influences such as consumers, products, and profits on b..

  Perfectly competitive firm-monopolistically competitive firm

Which of the following is FALSE about a comparison between a perfectly competitive firm and a monopolistically competitive firm?

  Suppose the feder reserve adopts a tight money policy

Suppose the feder reserve adopts a tight money policy to slow the economy down because of its concern about potentially rising inflation inflation. Show this policy outcome graphically using the IS-LM model assuming people believe the new policy is t..

  Show a t-account for a bank when you make a deposit of 1000

show a t-account for a bank when you make a deposit of 1000 into your checking account. assume the reserve ratio is

  Question 1 how does a company in perfect competition choose

question 1. how does a company in perfect competition choose the capital k and labour l requirements in the long-run?

  How do tcp and udp relate to ip

i. How do TCP and UDP relate to IP (Internet protocol)? Which of these pro- tocols are encapsulated within (or layered atop) one another? Could all three be used simultaneously?

  Example of a positive or a negative externality

In the absence of an agreement between the landowner and his neighbors, is he likely to harvest too much or too little of his timber at any given time? Characterize this as an example of a positive or a negative externality.

  Though net investment can be positive

What is "though net investment can be positive, negative, or zero, it is impossible for gross investment to be less than zero".

  The economic effects of labor unions revisited

In the article entitled "The Economic Effects of Labor Unions Revisited," Vedder and Galloway attempt to prove statistically, using historical data, that labor unions do not have a good effect on the economy.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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