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olga2289 [7]
3 years ago
7

a consumer has $100 to spend on two goods X and Y with prices $3 and $5 respectively. drive the equation of the budget line​

Business
1 answer:
kotegsom [21]3 years ago
5 0

Answer:

3X + 5Y = 100

Explanation:

Given that a consumer has $ 100 to spend on two goods X and Y with prices $ 3 and $ 5 respectively, the equation that represents this distribution is the following:

3X + 5Y = 100

Thus, the consumer may consume different combinations of products, as long as the sum of both amounts is $100 as a final result. For instance:

3x20 + 5X8 = 100

60 + 40 = 100

3x5 + 5x17 = 100

15 + 85 = 100

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Which of the following are good examples of objectives that a marketing manager might set for advertising?
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1 year ago
A _______ is a health insurance plan that directly employs or contracts with selected, or preapproved, physicians and other medi
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8 0
3 years ago
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In an effort to get more Americans to drink​ milk, the government sets a price ceiling on milk that is substantially below the e
slega [8]

Answer:

B. There will be a shortage of milk.

Explanation:

Because of the set price ceiling by the government, suppliers will be discouraged from producing milk since the price ceiling is far below the equilibrium price. As a result, there will be decreased supply of milk since it will not be as profitable to produce. This will lead to a shortage of milk. Option B is the correct answer based on the above.

6 0
3 years ago
An increase in the price of hot dogs from $1.50 to $2.10 per pound increased the average number of burgers demanded per week fro
timama [110]

Answer:

0.5

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Explanation:

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20 / 40 = 0.5

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Also, the cross price elasticitiy is positive, so the goods are substitutes goods.

I hope my answer helps you

7 0
3 years ago
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