7. When Erin has $25 to spend, she sees 2 movies at $10 a movie ticket and...

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7. When Erin has $25 to spend, she sees 2 movies at $10 a movie ticket and buys 1 six-pack of soda. Calculate the price of soda. If her budget for soda and movies increases to $50, what is the change in the relative price of a movie ticket? How does her marginal utility per dollar from movies change?

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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