David has an income of $60 to buy movie tickets and bus tickets. The price of a movie ticket is $12 and the price of a bus ticket is $4. What is the relative price of a bus ticket in terms of movie tickets?
A) 2 movie tickets
B) 15 movie tickets
C) $3
D) 1/3 movie ticket
E) $6
Correct Answer:
Verified
Q4: The price of one good divided by
Q6: Let Y = $100, QX = quantity
Q7: David has an income of $60 to
Q8: If the price of the good measured
Q8: Guy has an income (Y)of $50 with
Q10: Suppose all prices double and income also
Q12: The magnitude of the slope of the
Q13: Sarah has an income of $100. She
Q14: The budget line depends on
A)income only.
B)prices only.
C)income
Q19: Martha consumes cake and muffins.Suppose Martha's income
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents