1. This is a problem I asked on an exam about 30 years ago. Back then the phone system was highly regulated and the price of calls could be significantly different for in-state vs. out of state calls. A phone company offers the following package for in-state calls. First 50 minutes free The next 100 minutes at $0.25 per minute Any additional minutes are at the normal rate of $0.50 per minute. a. Draw the budget constraint for in-state calls and the composite good for a subscriber with an income of $400 per month. b. What is the opportunity cost of making an additional 20 minutes of calls if the subscriber currently makes 40 minutes of calls each month? c. What is the opportunity cost of making an additional 20 minutes of calls if the subscriber currently makes 140 minutes of calls each month?
Answers: 1
Another question on Business
Business, 21.06.2019 16:30
You are opening a new store and must project in your business plan the amount of inventory shrinkage. you have forecasted $1,200,000 in sales for the first year. assuming your shrinkage will be 5%, the high end of the national average, calculate the projected annual shrinkage for your business plan. you are opening a new store and must project in your business plan the amount of inventory shrinkage. you have forecasted $1,200,000 in sales for the first year. assuming your shrinkage will be 5%, the high end of the national average, calculate the projected annual shrinkage for your business plan.
Answers: 3
Business, 21.06.2019 18:30
Which of the following accurately describes one way that individual goods differ from public goods? a. people can be excluded from using individual goods if they don't pay. b. all individual goods are normal goods. c. demand for individual goods is always inelastic. d. consumer rivalry results in decreasing marginal utility for individual goods.2b2t
Answers: 3
Business, 22.06.2019 08:00
In addition to using the icons to adjust page margins, a user can also use
Answers: 1
Business, 22.06.2019 12:20
Selected transactions of the carolina company are listed below. classify each transaction as either an operating activity, an investing activity, a financing activity, or a noncash activity. 1. common stock is sold for cash above par value. 2. bonds payable are issued for cash at a discount
Answers: 2
You know the right answer?
1. This is a problem I asked on an exam about 30 years ago. Back then the phone system was highly re...
Questions
Social Studies, 02.01.2021 23:30
Computers and Technology, 02.01.2021 23:30
Mathematics, 02.01.2021 23:40
English, 02.01.2021 23:40
Mathematics, 02.01.2021 23:40
Engineering, 02.01.2021 23:40
Business, 02.01.2021 23:40
