Question
**Please use 4 decimals when working out problems QUESTION 1 Assume the following is the Budget Equation for a consumer: 51 Coke + 205 Cheetos
**Please use 4 decimals when working out problems
QUESTION 1
Assume the following is the Budget Equation for a consumer:
51 Coke+ 205 Cheetos = 6412
What is the opportunity cost of one more unit of Cheetos? (enter this number as positive)
QUESTION 2
If the slope of the budget line is -81 and the price of x2is 78, then what is the price of of x1? (hint: remember that prices cannot be negative, so input your answer as a positive number).
QUESTION 3
Assume the following is the Budget Equation for a consumer:
193 Coke+ 86 Cheetos= 8175
What is the opportunity cost of one moreCoke ? (enter this number as positive)
QUESTION 4
Jonnyonly consumes beer and weed.A beer is $26 andan ounce of weed is $12.Jonny'sbudget is $2905 a month. If the expression of his budget line equation isWeed =H+V Beer, what would be the value of V? (hint: be careful with the signs)
QUESTION 5
If the budget equation is the following 18204 x1+ 3345 x2= 12242. What is the maximum amount of x1that the consumer can buy?
QUESTION 6
If the slope of the budget line is -506 and the price of x1is 99, then what is the price of of x2? (hint: remember that prices cannot be negative, so input your answer as a positive number).
QUESTION 7
If the budget equation is the following 6478 x1+ 1170 x2= 15745. What is the maximum amount of x2that the consumer can buy?
QUESTION 8
Assume the following is the Budget Equation for a consumer:
151 Vodka+ 152Rum = 8435
What would be the intercept of the budget line in the Rum axis ?
QUESTION 9
Assume the following is the budget equation for Courtney who spends her income between music concerts and movies:
52Music Concerts+ 109 Movies = 5679
IfMusic Concerts are measured on thehorizontal axis, whatwould be the slope of the budget line ?
QUESTION 10
Harrison spends all of his income on vacation trips and textbooks. If the price of a trip is $100 and the price of a textbook is $194, then the slope of his budget line (assuming vacation trips are measured on the vertical axis) would be
QUESTION 11
Suppose a cup of coffee at the campus coffee shop is $16.8 and a cup of hot tea is $10.7. Suppose a student's beverage budget is $111 per week. If you were going to write an algebraic expression of this budget line of the form Coffee = A + B Tea. B would be
QUESTION 12
If the budget line equation is x2= - 86/246 x1 + 10532/246
What is theincome of the consumer?
QUESTION 13
If the budget line equation is x2= - 15/19 x1 + 3104/19
What is the price of x1?
QUESTION 14
Assume the following is the Budget Equation for a consumer:
154 Tequila+ 136Vodka = 4089
What would be the intercept of the budget line on theTequila axis?
QUESTION 15
- Figure 4-1
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