We can conclude that Michael's budget constraint will shift out but remain parallel to the old one.
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Explanation:</u></h3>
The ability of a person in spending a unit of money in purchasing a product r devices refers to the purchasing ability of that person. Purchasing power determines the quantity if goods and services that can be purchased by the individuals of an economy. The main factor that determines the purchasing power of an individual is the inflation rate.
In the given example, the ability of Michel in purchasing pizzas or submarine sandwiches is explained. When the pizza and submarine sandwiches prices gets doubled, the income of Michel triples. From this we can conclude that Michael's budget constraint will shift out but remain parallel to the old one.
Answer: Andy's demand for beer to increase
Explanation:
Andy's views beer and pizza as complement to each other. Hence when the price of pizza decreases Andy's demand for beer would increase as he would order more beer than pizza so as to complement both offers.
Answer:
The quantity of rooms registered on an offered day to a specific kind of guest certainly influences the quantity of registration on that day as can be seen underneath:
Explanation: Total Rewards guest - Total Rewards guests are those guests who have joined the dependability program and win credits on the entirety of their costs which they can later recover for a free stay or sustenance, etc. These sorts of guests are not expansive in number thus they don't put much weight on the number of registrations.
Their number can be normal with no check-ins on a specific day or a few check-ins on another day. So this kind of guest ordinarily doesn't influence the number of check-ins bigly.
Calculate for the total earnings gained from working by multiplying the number of hours worked and the hourly wage.
E = (27.25 hours)($5.15 /hour) = $140.3375
The total taxes and items that need to be paid is,
T = $6.19 + $10.74 + $6.37 = $23.3
Subtracting from the total earnings the latter,
NP = $140.3375 - $23.3 = $117.04
Answer is the third choice, $117.04.