User Account

All Pages

What can you say about the quantity of each good

Assignment Help Microeconomics
Reference no: EM132177170

Question: Hideki attends baseball games and goes to movie theaters. Baseball tickets cost $15, and movie tickets cost $10. His entertainment budget is $180.

a. Graph Hideki's budget constraint for baseball and movie tickets.

b. Suppose the home team is having a good season, and the price of baseball tickets goes up to $20 per game. Graph the new budget constraint.

c. Assuming that baseball and movie tickets are normal goods, what can you say about the quantity of each good that Hideki will consume after the price of baseball tickets goes up? Will the quantity of baseball games he attends increase or decrease, or is the change uncertain? Will the quantity of movies he watches increase or decrease, or is the change uncertain?

Reference no: EM132177170

Questions Cloud

In which case firms enjoy a larger profit margin : In which case firms enjoy a larger profit margin? Explain.
Write the equation for her new budget constraint : After giving away half of her gift certificate, suppose the price of massages increases by 50 percent before Maria can use her gift certificate.
What can you say about the quantity of each good : ment are normal goods, what can you say about the quantity of each good that Heather will purchase after the discount?
What are the drawbacks of method : Explain full cost pricing. What are the drawbacks of this method?
What can you say about the quantity of each good : Assuming that baseball and movie tickets are normal goods, what can you say about the quantity of each good that Hideki will consume.
What were the problems with globes marketing materials : Develop a timeline for the events from the time of the policy mailer. Why are Khalil’s arrest and previous counseling not required to be disclosed?
Estimate the value of the option : Use the Black-Scholes model to estimate the value of the option. Assume the variance of the project's rate of return is 0.1725 and that the risk-free rate is 7%
What we should do help us move toward to that goal : What goal or aspiration we should hope in the future? What challenges will we have, and what we should do help us move toward to that goal?
Provide a single line of code that would sort the examscores : You have an int array named examScores that is 1000 elements in length. Provide a single line of code that would sort the examScores

Reviews

Write a Review

Microeconomics Questions & Answers

  Explain cognitive dissonance and give the example how might

define cognitive dissonance and provide an example. how might cognitive dissonance impact a future home purchase? car

  What is the marginal cost curve for each firm

The chair-making industry currently consists of 90 producers, all of whom operate with the identical short-run total cost curve STC(Q)=500+3Q2, where Q is the annual output of a firm. Only $200 of each firm's fixed cost is sunk. The market demand cur..

  Calculate the amount of consumer and producer surplus

Determine the equilibrium price and quantity of TV. Calculate the amount of consumer and producer surplus. Under tariff regime when the government applies a tariff of $100 on each imported TV.

  How much consumer surplus will she enjoy

A college student enjoys eating pizza. Her willingness to pay for each slice is shown in the following table.

  How many units of x will each person own after trade

How many units of X will each person own after trade? How much of the tax per unit was the seller able to pass on to the buyers? What would the market price have to be in order to get B to buy 2 units of X?

  Calculate the equilibrium level of disposable income

Calculate the Equilibrium level (Y) Calculate the equilibrium level of disposable Income (Yd) Calculate the level of Consumption (C) in equilibrium

  Explain marginal product of second workers higher than first

Explain why the marginal product of the second and third workers might be higher than the first. Why might you expect the marginal product of additional workers to diminish eventually?

  Find the average profit and the marginal profit functions

A manufacturer estimates that when q units of a certain commodity are produced the profit obtained is P(q) thousands dollars, where P(q)=-2q^2+74q-72.

  Aerotron electronics is considering purchasing a water

aerotron electronics is considering purchasing a water filtration system to assist in circuit board manufacturing. the

  What is the optimal level of decentralization

Assume D represents the level of decentralization of corporate decision-making. The benefits of decentralization, denoted B, = 3D and the costs of decentralization, denoted, C = 2D + 2D2. What is the optimal level of decentralization (D)? Expl..

  What the authors mean by life-cycle costs

In your own words, develop a statement of what the authors mean by "life-cycle costs." It is important for a firm to be aware of life-cycle costs.

  Compute the short run total product

Compute the short run total product, average product of labor and marginal product of labor for all numbers of L between 0 and 7.

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