Business, 16.04.2020 03:53 GabriellaDul

Assume that Diego has $400 per month to divide between playing paintball and playing golf. Assume that playing paintball costs $40 and playing golf costs $20. Suppose Diego plays paintball six times per month and plays golf eight times per month. If paintball is on the y-axis and golf is on the x-axis then Diego's budget constraint has a y-intercept of nothing and an x-intercept of nothing. Assume that Diego has some unexpected expenses one month and can only spend $320 that month. Then Diego's new budget constraint has a y-intercept of nothing and an x-intercept of nothing. Diego cannot can afford two games of paintball and twelve rounds of golf since this bundle is on inside outside his budget constraint. Paintball is a normal an inferior good and golf is an inferior a normal good. Assume Diego has his original $400 per month to spend and the price of paintball is still $40, but the price of golf doubles to $40. Diego's new budget constraint has a y-intercept of nothing and an x-intercept of nothing.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 00:50

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?

Answers: 1

Answer

Business, 22.06.2019 18:00

Martha entered into a contract with terry, an art dealer. according to the contract, terry was to supply 18 th century artifacts to martha for the play she was directing, and martha was ready to pay $50,000 for this. another director needed the same artifacts and was ready to pay $60,000. terry decided not to sell the artifacts to martha. in this case, the court may order terry to:

Answers: 2

Answer

Business, 23.06.2019 00:00

What is a uniform law adopted by all states that facilitates business transactions?

Answers: 1

Answer

Business, 23.06.2019 15:00

Baskin promotions, inc. sells t-shirts decorated for a variety of concert performers. the company has developed the following budget for the coming year based on a sales forecast of 80,000 t-shirts: sales $ 1,400,000 cost of goods sold 820,000 gross profit 580,000 operating expenses ($100,000 is fixed) 418,400 operating income 161,600 income taxes (30% of operating income) 48,480 net income $ 113,120 cost of goods sold and variable operating expenses vary directly with sales, and the income tax rate is 30% at all levels of operating income. if the concert season is slow due to poor weather, baskin estimates that sales could fall to as low as 60,000 t-shirts. assume baskin actually achieves the 60,000 unit sales level, and that net income actually earned at this level was $70,000. a performance report would indicate that net income was:

Answers: 2

Answer

You know the right answer?

Assume that Diego has $400 per month to divide between playing paintball and playing golf. Assume th...

Questions