Number of hamburger that he can afford

Assignment Help Microeconomics
Reference no: EM13903345

Jack spends his whole budget and purchases 8 units of hamburger and 5 units of cake. The price of hamburger is twice the price of cake. The consumer's income doubles and the price of cake doubles, but the price of hamburger stays the same. If the consumer continues to buy 5 units of cake, what is the largest number of hamburger that he can afford?

Reference no: EM13903345

Questions Cloud

How many units must the company sell to break even : Which of the two systems will be more profitable for the firm if sales for either system are expected to average 150,000 units per year? How many units must the company sell to break even if it selects the Deluxe system?
What is the rationale for health care organizations : What is the rationale for health care organizations' adoption of strategic management? Contrast management, personnel, and human resources management
Show the fit between your technology is and the business : able to show the fit between your technology IS and the business
Determining the brink of bankruptcy : Due to unforeseen events in the aerospace industry, in the second year of the contract ERUS is in the brink of bankruptcy. It tells Big Bird that unless it increase the engine price to $300000, it will go bankrupt.
Number of hamburger that he can afford : If the consumer continues to buy 5 units of cake, what is the largest number of hamburger that he can afford?
Analyze the vision and mission statement : Critically analyze the vision and mission statement of each of the five organizations. For any one organization, identify its leader. Do you find the identified leader to be effective? Why or why not
What is projected after-tax operating profit for first year : What is the projected after-tax operating profit for Year 1? What is the after-tax break-even point in units for Year 1? What is the sales level in dollars required to equal Year 1 after-tax operating profit?
What are the project cash flows? : What are the project cash flows?
Advise allan of any income tax consequences of para : Calculate the Capital Gain - Advise the participants in the barter scheme of any income tax implications.

Reviews

Write a Review

Microeconomics Questions & Answers

  Determine implications for each of the computed elasticities

What does this say about the elasticity demand for insurance products and  what were the insurance companies assuming the elasticity demand would be - Compute the elasticities for each independent variable.

  Solve dp to minimize total purchase plus storage costs

Assume no inventories are desired at the end of March, and there are no beginning inventories in January. Solve this exercise using DP to minimize total purchase plus storage costs.

  Where can the entrepreneur go for funding what type of

write a 3 page double-spaced essay regarding what steps would an entrepreneur need to take to plan for a successful

  Describe the sources of supply and demand

Describe the sources of supply and demand in the market for loanable funds and the market for foreign currency exchange.

  What best explains the effect of these events

In the mid-1990's fashion trends toward loose-fitting, casual cotton clothing drove up the price of domestic cotton. In response, existing domestic farmers switched over from growing soybeans and rice to growing cotton. What best explains the effect ..

  Develop a good regression model with x variables in the

develop a good regression model with x variables in the regression equation. be sure to complete each part and write

  The crowding-out effect refers

The crowding-out effect refers to:

  Some fraction d of all new cars is defective

Normal 0 false false false EN-US X-NONE X-NONE It is known that some fract..

  Between 2009 and 2010 quantity of cars produced and sold

between 2009 and 2010 the quantity of cars produced and sold decreased by 20. during the same period the price of cars

  What are the consequences for farm output

What are the consequences for farm output as a result of this guaranteed price and what does the term "equilibrium" mean in the context of a market economy?

  Explain the strategic choices which should be considered

describe the strategic choices that must be considered before entering international marketsdescribe the importance of

  Objective questions based on managerial economics

From the standpoint of a soft drink company, the question What goods and services should be produced is best represented by which of the following decisions:

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