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Chapter 20: Q.10 (page 464)

Using your answer to Problem F-8, draw Sue's demand curve for soft drinks.

Short Answer

Expert verified

The demand curve is shown

Step by step solution

01

Given Information

the demand curve is a realistic portrayal of the connection between item cost and the amount of the item requested. It is drawn with the cost on the upward hub of the diagram and the amount requested on the flat hub.

02

Explanation

The demand curve is shown,

This is on the grounds that, with the lessening in cost from $2to$1, individuals will be interested in soft drinks. Since this shows a backwards connection between cost and amount requested, it very well may be portrayed with the negative incline line, this line is called request bend.

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Most popular questions from this chapter

What is true of the marginal utility per dollar spent on a stomach pacemaker compared with the marginal utility per dollar of food consumed during that interval?

Return to Problem 20-4. Suppose that the price of cheeseburgers falls to $1. Determine the new utility maximizing combination of cheeseburgers and french fries.

At a consumer optimum involving goods Aand B, the marginal utility of good Ais 2utils, and the marginal utility of good Bis 8utils. How much greater or smaller is the price of good B compared with the price of good A?

From the data in Problem 20-3, if the price of a cheeseburger is \(2, the price of a bag of french fries is \)1, and you have $1 to spend (and you spend all of it), what is the utility-maximizing combination of cheeseburgers and french fries?

Draw a marginal utility curve corresponding to the total utility curve depicted in Problem 20-9.
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