« previous next »

Author Question: The budget constraint for a consumer who only buys apples ( A) and bananas (B) is PAA + PBB = I ... (Read 210 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jul 1, 2018
The budget constraint for a consumer who only buys apples (
 
  A) and bananas (B) is PAA + PBB = I where consumer income is I, the price of apples is PA, and the price of bananas is PB. To plot this budget constraint in a figure with apples on the horizontal axis, we should use a budget line represented by the slope-intercept equation:
  A) A = -I/PA + (PB/PA)B
  B) A = I/PA - (PB/PA)B
  C) B = -I/PB + (PA/PB)A
  D) B = I/PB - (PA/PB)A

Question 2

Refer to Scenario 7.1. Which piece of information would NOT be helpful in calculating the marginal cost of the 75th unit of output?
 
  A) The total cost of 75 units
  B) The total cost of 74 units
  C) The variable cost of 75 units
  D) The variable cost of 74 units
  E) The firm's fixed cost


BAOCHAU2803

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p
Earth’s Heat Budget Earth’s Heat Budget
The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling
Spoon vanilla yogurt over canned crushed pineapple and sliced bananas for a tropical treat Spoon vanilla yogurt over canned crushed pineapple and sliced bananas for a tropical treat
Red and Green Apples Red and Green Apples
Apples Vs. Orange Apples Vs. Orange
Video: The Lac Operon in E. Coli

For a complete list of videos, visit our video library