Answer:
2
Step-by-step explanation:
8/200 is equivalent to 1/25 which as a decimal is 0.04
8/8=1
200/8=25
1/25=8/200
1/25=0.04
Answer:
Thomas' real income now is half that it was (nominal income decreased by half or prices doubled)
Step-by-step explanation:
If you graph both cases you will see that the shift is parallel between one case and the other.
Changes in relative prices (this is, if only one of the goods change prices), would cause a rotation in the budget line
Answer:
The answer is below
Step-by-step explanation:
The domain of a function is the set of all independent variables for the function while the range of a function is the set of all possible dependent variables.
Let x represent the number of newspaper lines and f(x) be the charges for advertisement. x is the independent variable and f(x) is the dependent variable.
Since the newspaper charges $3 per line for the first 4 lines plus a $20 fee to advertise, the function is given as:
f(x) = 3x + 20 for 0 < x < 4
But for more than four lines, the charges is given as:
f(x) = 12 + 20 = 32 4 < x < ∞
Therefore, the domain and range of the function is:
Domain = (0, ∞)
Range = (20, 32}