User Account

All Pages

Number of hamburger that he can afford

Assignment Help Microeconomics
Reference no: EM13903345

Jack spends his whole budget and purchases 8 units of hamburger and 5 units of cake. The price of hamburger is twice the price of cake. The consumer's income doubles and the price of cake doubles, but the price of hamburger stays the same. If the consumer continues to buy 5 units of cake, what is the largest number of hamburger that he can afford?

Reference no: EM13903345

Questions Cloud

How many units must the company sell to break even : Which of the two systems will be more profitable for the firm if sales for either system are expected to average 150,000 units per year? How many units must the company sell to break even if it selects the Deluxe system?
What is the rationale for health care organizations : What is the rationale for health care organizations' adoption of strategic management? Contrast management, personnel, and human resources management
Show the fit between your technology is and the business : able to show the fit between your technology IS and the business
Determining the brink of bankruptcy : Due to unforeseen events in the aerospace industry, in the second year of the contract ERUS is in the brink of bankruptcy. It tells Big Bird that unless it increase the engine price to $300000, it will go bankrupt.
Number of hamburger that he can afford : If the consumer continues to buy 5 units of cake, what is the largest number of hamburger that he can afford?
Analyze the vision and mission statement : Critically analyze the vision and mission statement of each of the five organizations. For any one organization, identify its leader. Do you find the identified leader to be effective? Why or why not
What is projected after-tax operating profit for first year : What is the projected after-tax operating profit for Year 1? What is the after-tax break-even point in units for Year 1? What is the sales level in dollars required to equal Year 1 after-tax operating profit?
What are the project cash flows? : What are the project cash flows?
Advise allan of any income tax consequences of para : Calculate the Capital Gain - Advise the participants in the barter scheme of any income tax implications.

Reviews

Write a Review

Microeconomics Questions & Answers

  To calculate the day number on which no loan is needed

Calculate the number of days it would take for the vendor to no longer need to borrow money in order to purchase $10 of vegetables and the day number on which no loan is needed?

  Discuss the difference between a change in demand

Discuss the difference between a change in demand and a change in quantity demanded in terms of causes and in how they appear graphically.

  The price elasticity of demand for cigarettes

According to studies undertaken by the US Department of Agriculture, the price elasticity of demand for cigarettes is between - 0.3 and - 0.4 and the income elasticity is about + 0.5.

  Is the purchase price of the new airline reasonable

A small airline recently sold to a private equity group for $145 million. The airline has earned profits of $9 million last year. The new managers believe they can grow profits at 5% per year.

  Explain the effects in the markets for corn

ethanol is a motor fuel manufactured from corn, barley, or wheat, and it can be used to power the engines of many autos and trucks. suppose that the government decided to probide a large per-unit subsidy to ethanol producers.

  What does marginal cost look like

Construct a numerical example to show that as marginal product (MP) rises, marginal cost (MC) falls. Explain your answer and use tables and graphs to illustrate.

  Decrease in employment for workers

Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage

  Role of government with respect to externalities

Describe benefit and cost externalities. List the reasons for lack of optimal allocation of resources in each case. Explain the need for government intervention in case of market failure due to externalities. Explain why government intervention may n..

  Features of the todaro model of rural-urban migration

Why might the problem of rapid urbanization be a more significant population policy issue than curtailing population growth rates over the next two decades for most developing countries? Explain your answer.

  How will a unexpected 3 percent fall in price level in

write a 2-3 page paper using apa formatting responding to the following questions. how will a an unexpected 3 percent

  Externalities-analysis and policy design suppose that in a

externalities-analysis and policy design suppose that in a competitive market demand is given by the equation p 600 -

  Domestic investment and net capital outflow

Assume only two countries, China and the US. If China decides to stimulate growth through a policy of running a large export trade surplus, does China’s national savings increase? Show the relationship between China’s national savings, domestic inves..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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