The graph shows the budget line for a consumer who only buys cookies and magazines. If the consumer's income is $20, what is the price of a cookie?
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- The graph shows the budget line for a consumer who only buys cookies and magazines. If the consumer's income is $20, what is the price of a Magazine? 24 20 16 4 2 4 6 8 10 12 Magazines (number per week) dollar(s) Cookies (number per week)Using graph, explain when consumer is in equilibrium? Draw the graph ( curves )qty per week Marginal Utility of songs Marginal Utility of Cookies 1 15 25 13 20 3 12 16 4 11 13 10 11 6. 9 10 7 8. 7 8. 6. 7 10 Above is the utility of Sara for song and cookie consumption. If the price of a song is $2 and the price of a cookie is $1, how many cookies and songs will sara consumer? Why?
- Please, I need answer about question d) I need graphic about question a) Determine and GRAPH consumer's optimum. THANKSYou have an 8:30 class this morning but you are feeling extremely tired. How do you decide whether toget some extra sleep or go to class?What is the effect if price of x is increased? draw graph
- When a consumer is below the budget line, what does it mean?Sara is a teenage artist who has been making paintings based on watercolor, each painting sells for 150 bs and she makes them every week. Sara likes hamburgers and Coca Cola, the price of hamburgers is 20 bs and Coca Cola is 3 bs. Sara would like to consume 3 hamburgers and 6 cokes this week. 1. How useful is this consumer basket? 2. Is the 150 Bs enough to satisfy your tastes? If not enough, how much budget do you need? It asks 1. Graph of the indifference curve and the budget line. 2. curve of the new budget line.What is the trend of the total utility
- Relationship Between the Consumer Demand Curve and Marginal Utility Discuss the impacts of marginal utility. Imagine that you are a seller of sunglasses: How can you increase the consumer demand curve by helping increase the marginal utility for consumers? Detail specific steps to take and provide examples.A consumer who has spent all of her income on clothes and food and finds that her marginal-utility for clothes is 16 and marginal-utility for food is 20. If the price of clothes and food are both $4 . What should the consumer do for purchases to maximize total utility A. purchasing more clothes and less food B. purchasing more of both commodities C. purchasing less of both commodities D. purchasing more food and less clothesimpacts of marginal utility. Imagine that you are a seller of phones: How can you increase the consumer demand curve by helping increase the marginal utility for consumers? Detail specific steps to take and provide examples.