Question: 1 if the budget line equation is x2 ...
1) If the budget line equation is x2 = - 37/216 x1 + 17,967/216
What is the price of x2 ?
2) If the budget equation is the following 13,942 x1 + 8,897 x2 = 16,405. What is the maximum amount of x2 that the consumer can buy?
3) If the budget line equation is x2 = - 79/5 x1 + 4,603/5
What is the price of x1 ?
4) Suppose a cup of coffee at the campus coffee shop is $8.8 and a cup of hot tea is $12.1. Suppose a student’s beverage budget is $168 per week. If you were going to write an algebraic expression of this budget line of the form Coffee = A + B Tea. B would be