Fred is attending a Friday Fish Fry. The table below shows his marginal benefit per fish...
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Fred is attending a Friday Fish Fry. The table below shows his marginal benefit per fish fillet eaten. That is, it shows his personal benefit from eating the first fillet, the second fillet, etc. Fillet # First Third Fourth Fifth $7.00 $5.45 $2.70 $0.60 -$2.10 Marginal Benefit Second If Fred get fish fillets for free, how many fillets will he feed on? If instead each fish fillet fetches $4 how many will he eat? 2 Pago < 13. Suppose you have $80 a week to spend between Chipotle (C) at $10 a meal or Super Street Tacos (S) at $20 a meal. a. What's the maximum chipotle you can buy a week? Super Street? b. How many meals at Chipotle do you give up for 1 meal from Super Street? C. (2 points) With Super Street as the 'x-variable' write down an equation for the budget. constraint. of 3 T c. (2 points) With Super Street as the 'x-variable' write down an equation for the budget constraint. d. (2 points) With Chipotle (C) on the y-axis and Super Street (S) on the x-axis, graph the budget constraint Fred is attending a Friday Fish Fry. The table below shows his marginal benefit per fish fillet eaten. That is, it shows his personal benefit from eating the first fillet, the second fillet, etc. Fillet # First Third Fourth Fifth $7.00 $5.45 $2.70 $0.60 -$2.10 Marginal Benefit Second If Fred get fish fillets for free, how many fillets will he feed on? If instead each fish fillet fetches $4 how many will he eat? 2 Pago < 13. Suppose you have $80 a week to spend between Chipotle (C) at $10 a meal or Super Street Tacos (S) at $20 a meal. a. What's the maximum chipotle you can buy a week? Super Street? b. How many meals at Chipotle do you give up for 1 meal from Super Street? C. (2 points) With Super Street as the 'x-variable' write down an equation for the budget. constraint. of 3 T c. (2 points) With Super Street as the 'x-variable' write down an equation for the budget constraint. d. (2 points) With Chipotle (C) on the y-axis and Super Street (S) on the x-axis, graph the budget constraint
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Related Book For
Microeconomics
ISBN: 978-0321866349
14th canadian Edition
Authors: Christopher T.S. Ragan, Richard G Lipsey
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