Assume you won $ 30 on a lottery ticket and decided to spend all the winnings on candy bars and bags of peanuts. The price of candy bars is $0.75 and price of peanuts is $1.50.
a. Construct a table showing the alternative combinations of the two products that are
available.
b. Plot the data in your table as a budget line in a graph. What is the slope of the budget line?
What is the opportunity cost of one more candy bar? Of one more bag of peanuts? Do
these opportunity cost rise, fall or remain constant as each additional unit of the product is
purchased?
c. Does the Indifference curve tell you which of the available combinations of candy bars and
bags of peanuts to buy? Explain it logically.
d. Suppose that you had won $60 on your ticket, not $30 show the $ 30 budget line in your
diagram. Has the number of available combinations increased or decreased? Explain it.

As he explores his options, sergio notices that some opportunities appear to be riskier than others. when considering various opportunities, sergio should keep in mind that:

Excel allows you to take a lot of data and organize it in one document. what are some of the features you can use to clarify, emphasize, and differentiate your data?

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]