33 After you have studied Economics in the News on pp. 188189, answer the following questions. a...

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33 After you have studied Economics in the News on pp. 188–189, answer the following questions.

a Explain what affects your choice for sugary drinks and bottled water.

b Sketch your budget line for sugary drinks and bottled water and your indifference curves, and show your best affordable choice.

c If a tax doubled the price of a sugary drink but didn’t alter the price of a bottle of water, how would your choice change?

d If a sugary drink is an inferior good, how does the analysis and figure on p. 189 change?

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Economics

ISBN: 9781118150122

10th European Edition

Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews

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Question Posted: Nov 06, 2024 04:00 AM

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33 After you have studied Economics in the News on pp. 188189, answer the following questions. a...

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Economics

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