Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 438 Weeks Ago, 5 Days Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Business & Finance Posted 11 May 2017 My Price 7.00

Pedro is a college student who receives a monthly

Pedro is a college student who receives a monthly stipend from his parents of $1,000. He uses this stipend to pay rent for housing and to go to the movies (assume that all of Pedro’s other expenses, such as food and clothing have already been paid for). In the town where Pedro goes to college, each square foot of rental housing costs $1.50 per month. Each movie he attends costs $10. Let x denote the square feet of housing, and let y denote the number of movies he attends per month.

a) What is the expression for Pedro’s budget constraint?

b) Draw a graph of Pedro’s budget line.

c) What is the maximum number of square feet of housing he can purchase given his monthly stipend? d) What is the maximum number of movies he could attend given his monthly stipend?

e) Suppose Pedro’s parents increase his stipend by 10 percent. At the same time, suppose that in the college town where he lives, all prices, including housing rental rates and movie ticket prices, increase by 10 percent. What happens to the graph of Pedro’s budget line?

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 11 May 2017 01:05 PM My Price 7.00

-----------

Attachments

file 1494509238-Answer.docx preview (259 words )
P-----------edr-----------o i-----------s a----------- co-----------lle-----------ge -----------stu-----------den-----------t w-----------ho -----------rec-----------eiv-----------es -----------a m-----------ont-----------hly----------- st-----------ipe-----------nd -----------fro-----------m h-----------is -----------par-----------ent-----------s o-----------f $-----------1,0-----------00.----------- He----------- us-----------es -----------thi-----------s s-----------tip-----------end----------- to----------- pa-----------y r-----------ent----------- fo-----------r h-----------ous-----------ing----------- an-----------d t-----------o g-----------o t-----------o t-----------he -----------mov-----------ies----------- (a-----------ssu-----------me -----------tha-----------t a-----------ll -----------of -----------Ped-----------roâ-----------€™s----------- ot-----------her----------- ex-----------pen-----------ses-----------, s-----------uch----------- as----------- fo-----------od -----------and----------- cl-----------oth-----------ing----------- ha-----------ve -----------alr-----------ead-----------y b-----------een----------- pa-----------id -----------for-----------). -----------In -----------the----------- to-----------wn -----------whe-----------re -----------Ped-----------ro -----------goe-----------s t-----------o c-----------oll-----------ege-----------, e-----------ach----------- sq-----------uar-----------e f-----------oot----------- of----------- re-----------nta-----------l h-----------ous-----------ing----------- co-----------sts----------- $1-----------.50----------- pe-----------r m-----------ont-----------h. -----------Eac-----------h m-----------ovi-----------e h-----------e a-----------tte-----------nds----------- co-----------sts----------- $1-----------0. -----------Let----------- x -----------den-----------ote----------- th-----------e s-----------qua-----------re -----------fee-----------t o-----------f h-----------ous-----------ing-----------,
Not Rated(0)