This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Billy has a $20 budget to spend on yogurt and cereal. Yogurt cost $2 each and cereal costs $4 each. ... (Read 169 times)

torybrooks

  • Hero Member
  • *****
  • Posts: 500
on: May 24, 2019
Billy has a $20 budget to spend on yogurt and cereal. Yogurt cost $2 each and cereal costs $4 each. Suppose that the quantity of yogurt is on the vertical axis and the quantity of cereal is on the horizontal axis. If the price of yogurt increases, which of the following is true?
i.The budget line rotates outward.
ii.Yogurt's marginal utility per dollar decreases.
iii.The relative price of yogurt increases.

◦ i and ii
◦ i and iii
◦ ii and iii
◦ i, ii, and iii
◦ only i
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by torybrooks on May 24, 2019

softEldritch

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 32% of students answer this correctly


torybrooks

  • Hero Member
  • *****
  • Posts: 500
Reply #2 on: May 24, 2019
Excellent


softEldritch

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Billy Joel - Piano Man Billy Joel - Piano Man
The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
Typical Startup Cost Categories Typical Startup Cost Categories
Solid foods like fortified infant rice cereal and oatmeal Solid foods like fortified infant rice cereal and oatmeal
Cost of Laptops Cost of Laptops
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Oxygen transport - methods and oxyhemoglobin

For a complete list of videos, visit our video library