What is the largest number of units of x

Assignment Help Business Economics
Reference no: EM132790037

Peter spend all of his income on 5 units of good x and 6 units of good y. The price of x is twice the price of y. Peters' income doubles and the price of y doubles, but the price of x stays the same. If Peter continues to buy 6 units of y, what is the largest number of units of x that he can afford?

Reference no: EM132790037

Questions Cloud

Give an example of substitute pair : Give an example of substitute pair and an example of complement pair that you have encountered and how a change in prices affected your spending in each case.
What is the net cash flows from operating activities : Lense Laboratories' net income was $260,000. Given the account information below, what is the net cash flows from operating activities for Lense Laboratories
What is the differentiation : Identify and describe the conditions you observed for a specific firm that operates in Monopolistic Competition who differentiates their product.
Present the expenses under the two forms of income statement : Present the expenses under the two forms of income statement. An entity incurred depreciation expenses of P200,000 in its administrative department
What is the largest number of units of x : If Peter continues to buy 6 units of y, what is the largest number of units of x that he can afford?
Construct a product structure : S requires 1 unit of T and 2 units of U. Each unit of T requires 1 unit of V, 2 units of W, and 1 unit of X. Construct a product structure
What is the price of leisure : Explain what would happen to the amount of leisure that we would enjoy if the wage rate went up. Why is the ultimate net effect not determinable by appealing to
Record the purchase of the machine on january : Emma Lavin sold the equipment to Dan Maryuma Corporation on June 30, 2020, for $130,000. Record the purchase of the Machine on January
Describe the audit tests the auditor may perform : Describe the audit tests the auditor may perform to determine if there are any errors or irregularities. Suggest one improvement for each of the weaknesses

Reviews

Write a Review

Business Economics Questions & Answers

  Explain price and output determinations for firms

Describe and explain price and output determinations for firms. How does the change from the short run to the long run for a Monopolistic Competitor? What effect does product differentiation have on the firms approach to price and advertising?

  Find the monopolist profit-maxmizing output and price

Suppose the demand curve for QD = 500 - p, and the marginal revenuue function is MR = 500 - 2Q. The monopolist has a constant marginal and averge total cost of $50 per unit. Find the monopolist profit-maxmizing output and price. Calculate the monopol..

  Decisions of the individual firm do not affect their price

Firms operate in a market structure that approaches perfect competition typically are known as "price takers", i.e., the individual firm can only expect to get the price dictated by supply and demand conditions and the decisions of the individual fir..

  What happened to the twin decits hypothesis

Do you agree? Why or why not? According to Krugman, how do you explain the fact that since the nancial crisis the US government budget decit has exploded, yet at the same time the US Current Account decit has actually decreased. What happened to t..

  The demand for iceberg lettuce

If Romaine lettuce and Iceberg lettuce are substitute products, an increase in the price of Romaine lettuce will ______ the demand for Iceberg lettuce. A. shift inward B. shift outward C. either increase or decrease (depending on whether lettuce is a..

  Increased use of anthropomorphic user interface

Due to the recent progress in the area of artificial intelligence and now that there is a stronger possibility that computers may actually be equipped with enhanced intelligence, do you expect an increased use of anthropomorphic user interface? Wh..

  Initial investment required and no risk of any loss

You see an advertisement for a book which claims to show how you can make $1,000,000 in investment profits in a year, with no initial investment required and no risk of any loss. The book costs $500. Would you buy it? Why or why not?

  Employee benefits package

Suppose you were given a choice to select from a menu of items in your employee benefits package. The menu might include medical coverage ($1500 deductable), life insurance equal to a year's salary, vacation time based on length of employment with th..

  What would be the effect on wage rate women received

What would be the effect on the net wage employers paid? (The net wage would be the wage women received less 50 cents.)

  What are the four types of a tiered infrastructure

What are the four types of a tiered infrastructure? What additional features does platform-as-a-service (PaaS) offer beyond software-as-a-service (SaaS)? How do efficiency and effectiveness metrics differ?

  Years the supply of circulation money

In the last few years the supply of circulation money has increased dramatically but inflation has remained low. Why?

  What is the future value of the total revenue

A major defence supplier expects to generate additional revenue from its recently won government contract. The company expects the revenue will be $110 million in the first year and the revenue increasing by $2.5 million each year for the next 4 year..

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