Describe how tim''s consumption possiblities change

Reference no: EM13182618

Tim buys 2 pizzas and sees 1 movie a week when he has $16 to spend. The price of a movie ticket $8, and the price of a pizza is $4. Draw Tim's budget line. If the price of a movie ticket falls to $4, describe how Tim's consumption possiblities change.

Reference no: EM13182618

Questions Cloud

Explain what is the initial concentration of the acid : NaOH to titrate 25.00 mL of an unknown acid solution to the equivalene point. What is the initial concentration of the acid?

Explain the t-i-p-e-n and p-r-e-s-t : Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of d..

State a balanced reaction for the cell : A standard Ni(s) |Ni^2+ (aq) || Ag^+ (aq) | Ag(s) is constructed and the standard potential is 1.03 V a) write a balanced reaction for the cell

What price should you charge for a meal : As a budding entrepreneur, you have purchased a small bagel shop. You have engaged in a market study to categorize your customers' willingness to pay for a meal (coffee+bagel) into 8 equal sized groups: ($5.00, $4.50, $4.00, $3.50, $3.00, $2.50, ..

Describe how tim''s consumption possiblities change : Tim buys 2 pizzas and sees 1 movie a week when he has $16 to spend. The price of a movie ticket $8, and the price of a pizza is $4. Draw Tim's budget line. If the price of a movie ticket falls to $4, describe how Tim's consumption possiblities cha..

What is the relative price of a cup of coffee : Amy has $12 a week to go spend on coffee and pop. The Price of coffee is $2 a cup, and pop is $1 a can. Draw a graph of Amy's budget line. Can Amy buy 7 cans of pop and 2 cups of coffee a week? Can she buy 7 cups of coffee and 2 cans of pop a week..

Explain change in inflation in these two economies : Given this information, what can you say, if anything, about the change in inflation in these two economies? Specifically, what happened to t (relative to t-1) in these two economies? Suppose tA ?t-1B. Given this information, ..

Regular gazoline car and the hybrid version : Choose any three cars brands that are a minivan, a compact car, and a sedan crossover. Compare the mileage (city versus highway) Do any of these models come as a hybrid? If not choose one that does. Compare the fuel statistics for the same car as a r..

Should the company obtain the route : How many passenger train cars must Springfield Express operate to earn pre-tax income of $ 120,000 per month on this route and What qualitative factors should be considered by Springfield Express in making its decision about acquiring this route?

User Account

All Pages