Describe how tim consumption possibilities change

Assignment Help Microeconomics
Reference no: EM132114728

Question: Tim buys 2 pizzas and sees 1 movie a week when he has $16 to spend, a movie ticket is $8, and a pizza is $4. Draw Tim's budget line. If the price of a movie ticket falls to $4, describe how Tim's consumption possibilities change. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132114728

Questions Cloud

What does the fact that fans eat less at subsequent games : What conflict might exist between utility maximization and setting "personal records" for eating? What does the fact that fans eat less at subsequent games.
How educated you think you are about native americans : In your paragraph, explain, after having read the PBS article, how educated you think you are about Native Americans.
How can setting personal records for eating be reconciled : How can setting personal records for eating be reconciled with marginal utility theory? Which ideas of behavioural economics are consistent with the information
Which english colony would you have liked to have lived in : What caused the colonial wars between the major European powers to erupt? Could the different powers have lived together in peace in the New World?
Describe how tim consumption possibilities change : Tim buys 2 pizzas and sees 1 movie a week when he has $16 to spend, a movie ticket is $8, and a pizza is $4. Draw Tim's budget line.
How does your current or past company you work for : Watch at least three videos you find and provide a summary of the type of information that the video contained and how it relates to this unit.
What is cindy marginal utility from golf and from tennis : Cindy takes a Club Med vacation, the cost of which includes unlimited sports activities. With no extra charge for golf and tennis.
The literature on honeypots or so called fake networks : The literature on honeypots or so called "fake networks" to attract hackers and attackers frequently mentions "entrapment" as one of the legal
About nonverbal communication : Knowing what you know now about nonverbal communication, how would you communicate differently and why?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd