A consumer has $150 in monthly income to be spent on two goods Z and B. The

Fantastic news! We've Found the answer you've been seeking!

Question:

A consumer has $150 in monthly income to be spent on two goods Z and B.

The price of good Z and B (Pz) is $4.00

The Marginal Rate of Transformation? (MRT) is equal to minus 2. That is 2 units of good B can be traded for 1 unit of good Z.

What is the price of a good? B? $___ ?(round your answer to the nearest penny).

How many units of good B can be purchased if all income is used for that? good? ___ units ?(round your answer to two decimal places).

Related Book For answer-question

Elements of Electromagnetics

ISBN: 978-0195134773

3rd Edition

Authors: Matthew

See More Books

Posted Date: Jan 07, 2021 06:44 AM

See More Questions

Let money income be $10 while the price of good 1 is $2 and the price of 2 is $1. Draw a budget line. Now draw the new budget lines according to each of the following changes in prices and income....
Given that income is $300, the price of good Y is $15, and the price of good X is $20, what is the vertical intercept of the budget line?
The price of good X increases by 25%, causing the quantity consumed of good Y to decrease by 10%. If everything else is held constant in the economy, we can say with certainty that good X and good Y...
MVP Company issued a callable bond. The bond is a 7% semiannual coupon bond currently priced at 102 that has a remaining time to maturity of seven years. The bond is callable beginning the end of...
Summarize the measures which are used to assess the effectiveness of an e-business such as lastminute.com (such as subscribers, conversion rate and total transaction value). How do they relate to...
The magnetic field component of a plane wave in a lossless dielectric [is H = 30 sin (2 X 10 8 t 5x) a z mA/m (a) If r = l. find r .. (b) Calculate the wavelength and wave velocity. (c) Determine...
Two immiscible, incompressible, viscous fluids having the same densities but different viscosities are contained between two infinite, horizontal, parallel plates (Fig. P6.80). The bottom plate is...
Beaty Company has the following internal control procedures over cash receipts. Identify the internal control principle that is applicable to each procedure. (a) All over-the-counter receipts are...
how does evaluations relates to each assessment method and why (selected-response, constructed-response, and performance-based). ?
Three-Month Project NOTE! Templates needed Ampersand, Inc., is a small business that operates in Somerset, VT The company is located at 732 Appalachian Way, Somerset, VT 05363. Its federal Employer...
DDD corp. reports the following information for the fiscal year (in $ million): Distribution to shareholders $180 Net income Beginning retained earnings $725 What is the retained earnings of DDD...
R. Kennedy is a security van driver. He has a wage of 200 per week, plus danger money of 2 per hour extra spent in transporting gold bullion. During the week ended 15 June 2012 he spends 20 hours...
A company maintains its non-current assets at cost. Depreciation provision accounts for each asset are kept. At 31 December 2011 the position was as follows: The following additions were made during...
Describe the aspects of health that make it a consumption good. Describe those that make it an investment good.
The deductible feature of an insurance policy can affect the impact of moral hazard. Explain this in the context either of probability of treatment and/or amount of treatment demanded.
Suppose that a consumer makes V 0 physician visits each year at a price of P 0 . If the price elasticity is 0.4, what will happen to the number of visits if the price increases by 10 percent? What...
Is exchange rate volatility an obvious sign of a poorly operating market?
What is EBIT/eps analysis? What information does it provide managers?
Express the following points in Cartesian coordinates: (a) P(1, 60, 2) (b) Q(2, 90, 4) (c)R(, 45, 210) (d) T(4, /2, /6)
For Problem 13.4 (a) Determine Es and Hs at the far field (b) Calculate the directivity of the dipole
(a) Express the vector field in cylindrical and spherical coordinates, H = xy2zax + x2yzay + xyz2az (b) In both cylindrical and spherical coordinates, determine H at (3, 4, 5).
Using a search engine such as Google, search for power of a hypothesis test. Describe what the power of a hypothesis test is.
H 0 : The lottery is fair. Ha: The lottery is biased. Without using the terms null hypothesis and alternative hypothesis, identify the type I error and identify the type II error.
What do p, p, and P-value represent?

A consumer has $150 in monthly income to be spent on two goods Z and B. The

Question:

Expert Answer:

Elements of Electromagnetics

Students also viewed these economics questions