ECS1501 ASSIGNMENT 6 QUESTIONS AND EXPECTED ANSWERS
ECS1501 ASSIGNMENT 6 QUESTIONS AND EXPECTED ANSWERS The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag. You have $10 to spend on both goods. The maximum number of bags of peanuts that you can purchase is: A. 5. B. 20. C. 40. D. 10. - CORRECT ANSWERC. 40 The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag. You have $5 to spend. You decide to purchase 8 boxes of popcorn. The maximum number of bags of peanuts that you can purchase is: A. 8. B. 10. C. 12. D. 4. - CORRECT ANSWERD. 4 Adam has a monthly income of $20 that can be spent on books (B) and pencils (P). The price of a book is $5 and the price of a pencil is $0.50. Which of the following bundles of books and pencils is UNAFFORDABLE? A. 2 books and 20 pencils B. 2 books and 30 pencils C. 1 book and 20 pencils D. 4 books and no pencils - CORRECT ANSWERB. 2 books and 30 pencils Adam has a monthly income of $20 that can be spent on books (B) and pencils (P). The price of a book is $5 and the price of a pencil is $0.50. Which of the following bundles of books and pencils lies ON Adam's budget line? A. 2 books and 20 pencils B. 1 book and 40 pencils C. 3 books and 5 pencils D. no books and 20 pencils - CORRECT ANSWERA. 2 books and 20 pencils Scenario: Tom's Budget Constraint Tom is trying to decide how to allocate his $50 budget for music downloads and online movie streaming when the price of a music download is $1 and the price of a movie is $5. Reference: Ref 10-6 (Scenario: Tom's Budget Constraint) Read the scenario Tom's Budget Constraint. If we measure music downloads on the horizontal axis and movies on the vertical axis, the horizontal intercept of Tom's budget line is: A. 50. B. 1/2. C. 20. D. 100. - CORRECT ANSWERA. 50 George has a weekly income (I) of $50, which he uses to purchase doughnuts (D) and coffee (C). The price of a doughnut is $1 and the price of coffee is $2.50. Suppose George's income drops to $25 and the prices of doughnuts and coffee each fall to onehalf their initial prices. One would expect George's budget line to: A. rotate around one of the axes, but one cannot tell which one. B. stay the same. C. shift to the left. D. shift to the right. - CORRECT ANSWERB. stay the same. The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag. You have $5 to spend. You decide to purchase 6 boxes of popcorn. The maximum number of bags of peanuts that you can purchase is: A. 10. B. 8. C. 12. D. 4. - CORRECT ANSWERB.
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ecs1501 assignment 6
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ecs1501
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ecs1501 assignment
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ecs1501 assignment 6 questions and expected answers
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ecs1501 assignment 6 questions and expected answers the price of popcorn is 050 per box and the
