Will a consumer purchase exact 5 bottles of wine

Reference no: EM13222549

A consumer has $100 to divide between purchasing wine and quiche. Suppose wine costs $10 per bottle if the consumer purchases up to 5 bottles. After that, it is $5 per bottle. Suppose quiche is $5 each. Please draw the budget line. Will a consumer purchase exact 5 bottles of wine? And why?

Reference no: EM13222549

Questions Cloud

What is macpacks annual inventory carrying cost : MacPack Products orders materials from its suppliers 26 times per year, at a re-ordering cost of $350 (per order). The company's average inventory is valued at $400,000. What is Macpack's annual inventory carrying cost, assuming an ICC rate of 25%..

How much money must the engineer set aside in project : a young engineer wishes to become a millionaire by the time he is 60 years old. he believes that by careful investment he can obtain a 15 percent rate of return. he plans to add a uniform sum of money to his investment program each year

How many bricks should the firm produce today : Yesterday, a perfectly competitive producer of construction bricks manufactured and sold 10,000 bricks per week at a market price that was just equal to the minimum average variable cost of producing each brick. Today, all the firm's costs are the..

What are the annual turns : Your company has an average annual inventory of $70 million. Its annual cost of goods sold (COGS) is $560 million. Order costs are $195 per order, and inventory carrying costs are estimated at 23%. What are the annual turns (how many order cycles ..

Will a consumer purchase exact 5 bottles of wine : A consumer has $100 to divide between purchasing wine and quiche. Suppose wine costs $10 per bottle if the consumer purchases up to 5 bottles. After that, it is $5 per bottle. Suppose quiche is $5 each. Please draw the budget line.

How it is possible for the price of water to be much lower : "Nothing is more useful than water: but it will purchase scarce anything; scarce anything can be had in exchange for it. A diamond, on the contrary, has scarce any value in use; but a very great quantity of other goods may frequently be had in exc..

How many agents should global staff : How many agents should Global staff?

What are beliefs about compromise as a conflict resolution : What are your beliefs about compromise as a conflict resolution technique?

Explain food dye on the spectrophotometer : Make a list of the operations you will need to perform in order to display a spectrum of your food dye on the spectrophotometer.

User Account

All Pages