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Home / Questions / Suppose that Agatha in Problem 10 had $465 to spend on tickets for her trip. She needs to

Suppose that Agatha in Problem 10 had $465 to spend on tickets for her trip. She needs to

Suppose that Agatha in Problem 10 had $465 to spend on tickets for her trip. She needs to travel a total of 1,500 miles. Suppose that the price of first-class tickets is $.40 per mile and the price of second-class tickets is $.10 per mile. How many miles will she travel by second class?

a.450

b.600

c.225

d.550

e.150

22.Suppose that Agatha in Problem 10 had $440 to spend on tickets for her trip. She needs to travel a total of 1,500 miles. Suppose that the price of first-class tickets is $.40 per mile and the price of second-class tickets is $.20 per mile. How many miles will she travel by second class?

a.400

b.950

c.900

d.800

e.266.67

23.Suppose that Agatha in Problem 10 had $270 to spend on tickets for her trip. She needs to travel a total of 1,500 miles. Suppose that the price of first-class tickets is $.30 per mile and the price of second-class tickets is $.10 per mile. How many miles will she travel by second class?

a.1,000

b.450

c.1,050

d.900

e.300

24.Suppose that Agatha in Problem 10 had $495 to spend on tickets for her trip. She needs to travel a total of 1,500 miles. Suppose that the price of first-class tickets is $.40 per mile and the price of second-class tickets is $.10 per mile. How many miles will she travel by second class?

a.500

b.350

c.450

d.175

e.116.67

25.Suppose that Agatha in Problem 10 had $360 to spend on tickets for her trip. She needs to travel a total of 1,500 miles. Suppose that the price of first-class tickets is $.40 per mile and the price of second-class tickets is $.10 per mile. How many miles will she travel by second class?

a.400

b.900

c.950

d.800

e.266.67

26.In Problem 4, Maude thinks delphiniums and hollyhocks are perfect substitutes, one for one. If delphiniums currently cost $3 per unit and hollyhocks cost $4 per unit and if the price of delphiniums rises to $6 per unit,

a.the income effect of the change in demand for delphiniums will be bigger than the substitution effect.

b.there will be no change in the demand for hollyhocks.

c.the entire change in demand for delphiniums will be due to the substitution effect.

d.1/3 of the change in demand will be due to the income effect.

e.2/3 of the change in demand will be due to the income effect.

27.In Problem 4, Maude thinks delphiniums and hollyhocks are perfect substitutes, one for one. If delphiniums currently cost $4 per unit and hollyhocks cost $5 per unit and if the price of delphiniums rises to $9 per unit,

a.the income effect of the change in demand for delphiniums will be bigger than the substitution effect.

b.1/5 of the change in demand will be due to the income effect.

c.the entire change in demand for delphiniums will be due to the substitution effect.

d.there will be no change in the demand for hollyhocks.

e.4/5 of the change in demand will be due to the income effect.

28.In Problem 4, Maude thinks delphiniums and hollyhocks are perfect substitutes, one for one. If delphiniums currently cost $4 per unit and hollyhocks cost $5 per unit and if the price of delphiniums rises to $7 per unit,

a.the entire change in demand for delphiniums will be due to the substitution effect.

b.1/3 of the change in demand will be due to the income effect.

c.the income effect of the change in demand for delphiniums will be bigger than the substitution effect.

d.there will be no change in the demand for hollyhocks.

e.2/3 of the change in demand will be due to the income effect.

29.In Problem 4, Maude thinks delphiniums and hollyhocks are perfect substitutes, one for one. If delphiniums currently cost $2 per unit and hollyhocks cost $3 per unit and if the price of delphiniums rises to $5 per unit,

a.there will be no change in the demand for hollyhocks.

b.the entire change in demand for delphiniums will be due to the substitution effect.

c.1/3 of the change in demand will be due to the income effect.

d.the income effect of the change in demand for delphiniums will be bigger than the substitution effect.

e.2/3 of the change in demand will be due to the income effect.

30.In Problem 4, Maude thinks delphiniums and hollyhocks are perfect substitutes, one for one. If delphiniums currently cost $5 per unit and hollyhocks cost $6 per unit and if the price of delphiniums rises to $9 per unit,

a.the income effect of the change in demand for delphiniums will be bigger than the substitution effect.

b.1/4 of the change in demand will be due to the income effect.

c.there will be no change in the demand for hollyhocks.

d.the entire change in demand for delphiniums will be due to the substitution effect.

e.3/4 of the change in demand will be due to the income effect.

Dec 12 2019 View more View Less

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