Jims best a?ordable choice

Assignment Help Microeconomics
Reference no: EM13309781

Jim sees commuting by bus and T as perfect substitutes (U = T +B), that is, he would exchange one commute by bus for one commute by T. The price of a bus ticket is $1.50 and the price of a T ticket is $2.00. Jim has $6.00 to spend on commuting. What is
1 Jims best a?ordable choice? By how much can T ticket prices increase without making Jim worse o??

Reference no: EM13309781

Questions Cloud

The residual and tidal volumes are important to consider : The residual and tidal volumes are important to consider. Assume that an allergen is in an aerosol form (1.0g/L air) and can be inspired and expired at the same rate a normal air. When first exposed to the allergen, how long will it take to reach equ..
Bank operations using t accounts : Bank operations using T accounts
Large multi-national projects : What challenges do you see for large multi-national projects, and what solutions would you suggest to keep communication channels open and strong?
What is the statues weight density : A statue is found in an Archaelogical dig. Its weight is measured to be 96 lb and its volume 0.08ft3. What is the statues weight density
Jims best a?ordable choice : Jims best a?ordable choice? By how much can T ticket prices increase without making Jim worse o??
Calculate the linear separation of the red fringes : In a double slit experiment there are two plane monochromatic waves incident on the slits. One wavelength is red with lamba= 600.0 nm, Calculate the linear separation of the red fringes
Employment agencies catering to finding employment : Eric seeks to trademark the name McJobs for his international company that is a broker for employment agencies catering to finding employment for entry level jobs. What is the process Eric must follow to secure, register, and maintain this trademark...
Supply and demand defined market for a hypothetical : 1. Suppose we are looking at a supply and demand defined market for a hypothetical good called widgets. We observe that, because of falling consumer incomes, the demand for widgets increases. We also observe that, because of a reduction in ..
Determine the power input to the motor : A power washer is being used to clean the side of a house. water enters at the ground level at 20 degrees Celsius, 100kPa, with a volumetric flow-rate of 0.1 L/sec through a 2.5 cm-diameter hose. a jet of water exits at 25 degrees Celsius, 100 kPa, w..

Reviews

Write a Review

Microeconomics Questions & Answers

  What is the corporate marr

Consider the tax depreciation for a $1,000 investment using both the modified accelerated cost recovery system (MACRS) and the straight line depreciation accounting systems. Show that the MACRS system is more beneficial economically. Use a 5-year ..

  Why governments intervene in markets with price floor

This is a self-reflection paper developed based on the classroom discussion around minimum wage. Explain the effect minimum wage has on the economy. List and describe both the pros and cons of the more recent increases in the federal minimum wage...

  How much do they borrow or lend per period

Find the optimal consumption bundle if m1 = 100, m2 = 88, and r = :2. Is the consumer a borrower or a lender? How much do they borrow or lend per period?

  Which is the best method of controlling monopoly power

Integrating Problem From the following figure referring to a natural monopolist, indicate(a) the best level of output, price, and profits per unit and in total for the monopolist,(b) the best level of output and price with a lump sum tax that would ..

  Explain why the short-run aggregate supply curve

Explain why the short-run aggregate supply curve is not vertical, but the long-run aggregate supply curve is vertical.

  Show the effects of the subsidy on a graph

How much substitutability do you suppose exists between inputs in winemaking? How might this factor affect efforts to cut costs?

  Create a log return series from the stock price index

Create a log return series from the stock price index (the log return is the change in the logarithm of the stock price). Estimate an appropriate pure AR(p) model and an appropriate pure MA(q) model and compare these to a mixed ARMA(1,1) model.

  What theory or theory might court use to hold wallace liable

Dale Emerson served as the chief financial officer for Reliant Electric Company, a distributor of electricity serving portions of Montana and North Dakota. Reliant was in the final stages of planning a takeover of Dakota Gasworks

  Identify the result on the equilibrium price and quantity

The government provides national dental insurance benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effects of this policy. First, there will be an increase in the number of consumers of dental servic..

  What are the pros and cons of organizational technique

what is chain command and what are the pros and cons of organizational technique what bennefits are provided by the use of specific chain of command and what issues might result

  What is prisoner 1s dominant strategy

Two suspects are arrested and charged with a crime. The police lack sufficient evidence to convict the suspects, unless at least one confesses. The police hold the suspects in separate cells and explain the consequences that will follow from the a..

  Long-run total cost-long-run average cost

The production engineers at Impact Industries have derived the optimal combinations of labor and capital (the only two inputs used by Impact) for three levels of output: 120, 180, and 240 units of output:

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