A consumer has $130 in monthly income to be spent on two goods Z and...
60.1K
Verified Solution
Link Copied!
Question
Accounting
A consumer has $130 in monthly income to be spent on two goods Z and B. The price of goodZ(P2) is $7.00. The Marginal Rate of Transformation (MRT) is equal to -2 . That is 2 units of good B can be traded for 1 unit of good Z. What is the price of good B ? $ (round your answer to the nearest penny). How many units of good B can be purchased if all income is used for that good? units (round your answer to two decimal places)
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.