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 167 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?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Men and women work the same number of hours a week, but men spend more time on paid work, and women ... Men and women work the same number of hours a week, but men spend more time on paid work, and women ...
Health Care Costs for the Elderly and Disabled Health Care Costs for the Elderly and Disabled
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
Too Much Alcohol Costs You Good Nutrition Too Much Alcohol Costs You Good Nutrition
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Billy Gillies - DNA (Loving You) [feat. Hannah Boleyn] [Official Audio] Billy Gillies - DNA (Loving You) [feat. Hannah Boleyn] [Official Audio]
Video: Proteins

For a complete list of videos, visit our video library