A consumer has an income of $12,120. She consumes only two goods, tacos and beer. Tacos cost $2.66 each and a

bottle of beer costs $3.53. If tacos are on the vertical axis, what is the slope of the budget constraint? (Do not forget to include the sign and round to two decimal places)

1 points   QUESTION 2

1. A consumer has an income of $18,067. He consumes only two goods, pizza and soda. Pizza costs $2.47 each and a soda costs $2.58. If pizza is on the vertical axis, what is the intercept on the vertical axis? (Do not forget to include the sign and round to two decimal places)

1 points   QUESTION 3

1. What does your answer to the question above represent?a.The maximum number of pizza slices this individual can afford to consume.b.The maximum number of soda cans this individual can afford to consume.c.The optimal number of pizza slices this individual would like to consume.d.The optimal number of soda cans this individual would like to consume.

1 points   QUESTION 4

1. A consumer has an income of $22,366. She consumes only two goods, Good A and Good B. Good A costs $1.11 each and a Good B costs $5.65 each. If Good A is on the vertical axis and the marginal rate of substitution is equal to -q_A/q_B what is the optimal amount of consumption of Good A? (Do not forget to include the sign and round to two decimal places)

1 points   QUESTION 5

1. A consumer has an income of $19,252. He consumes only two goods, Good A and Good B. Good A costs $1.31 each and a Good B costs $2.93 each. If Good A is on the vertical axis and the marginal rate of substitution is equal to -q_A/q_B what is the optimal amount of consumption of Good B? (Do not forget to include the sign and round to two decimal places)

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