User Account

All Pages

How many coffee cups do you purchase

Assignment Help Microeconomics
Reference no: EM131888046

Question - Cherry pie and Coffee budget constraint

Imagine you are one individual looking to purchase some of the only two goods in your economy, cherry pies and coffee. Your income is $90. You hear that the pies in town are the best in the country, so you buy one pie for the absorbitant price of $30. You have invited your entire class over for pie and coffee, so you stop by a café on your way home and purchase as many coffee cups as you can afford. They cost $3 per cup. How many coffee cups do you purchase?

Verified Expert

The client required the solution to a budget constraint problem. The two products were cherry pie and coffee. The price of cherry pie, coffee was given. Individual's income was also given. And we had to find out the consumption of number of cups coffees. The classic budget constraint was used assuming that the individual exhausts his income. This gave us the solution of the number of coffee cups consumed by the individual.

Reference no: EM131888046

Questions Cloud

Federalists and the anti-federalists : In detail, explain what the difference was between the Federalists and the anti-federalists. Did the names for their factions correspond with their political
Explain h-ds competitive advantage in global markets : Explain H-D's competitive advantage in Global Markets . Determine and explain entry strategies for global expansion.
Unifying aspects to the atlantic revolutions : To what extent are revolutions a change and to what extent are they a return? Is there any unifying aspects to the Atlantic Revolutions?
Conflict and collaboration and long distance trade : During empires in conflict and collaboration and long distance trade... How did various diaspora benefit trade? What are the negative effects of trade?
How many coffee cups do you purchase : Imagine you are one individual looking to purchase some of the only two goods in your economy, cherry pies and coffee. How many coffee cups do you purchase
Discuss the social and cultural impact of jazz : Discuss the social and cuLtural impact of Jazz as it relates to the African American experience and integration into a traditional Western tradition.
What concentration of sodium hydroxide : What concentration of sodium hydroxide is needed to give an aqueous solution with a pH of 10.650?
Determination of expected value of each alternative : It now has to decide which option is the best using probability analysis, the decision tree model, and expected monetary value.
Research the electronic health records : In the first week of your internship, the CIO approaches your team and asks you to research electronic health records (EHRs).

Reviews

Write a Review

Microeconomics Questions & Answers

  Show the effects of these policies in an is-lm diagram

Suppose G falls, T rises, and M increases and that this combination of policies has no effect on output. Show the effects of these policies in an IS-LM diagram. What happens to the interest rate? What happens to investment?

  Calculate the value of consumer surplus

Calculate the value of consumer surplus received by divers visiting Palau at this equilibrium and Calculate the price elasticity of demand at this equilibrium

  Can you devise a survey that does make people reveal truth

Suppose the average value that a person in a certain city places on having 1000 extra police of?cers out on the streets for a year is $10. Some people have a higher value and some a lower value. The population is 7 million.

  Explaining the empirical link between education and earnings

Outline the human capital and signalling approaches to explaining the empirical link between education and earnings

  What does information tell us about fiscal policy actions

The federal government's budget surplus was $236.2 billion in 2000 and $128.2 billion in 2001. What does this information tell us about fiscal policy actions that Congress and the president took during those years?

  Is this a demand issue or supply issue

Why does rent control result in a shortage of rental units and any time there is a shortage of a good it means that the price is too low. Analyze this statement.

  Suppose you are risk-averse and you could select one of the

consider the following two completely separate economies. the expected return and volatility of all stocks in both

  Investment spending

Investment spending

  Analyze how economic growth is measured

Analyze how economic growth is measured to determine which factor is the most difficult to measure accurately. Make recommendations on how the factor you identified can be measured more accurately.

  Calculate the monopolist profit

Calculate the monopolist's profit.

  1 an economist who is studying the relationship between the

1 an economist who is studying the relationship between the money supply interest rates and the rate of inflation is

  Examine any downsides to fiscal policy such as fiscal lags

Examine any downsides to fiscal policy such as fiscal lags

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