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STUDY PLAN PROBLEMS AND APPLICATIONS MyLab Economics Work Problems 1 to 11 in Chapter 9 Study Plan and get instant feedback. Left running shoe Eyeglasses and con Explain the relationship L indifference curve and the tion as the quantities of t Consumption Possibilities (Study Plan 9.1) Use the following data to work Problems 1 and 2. Sara's income is $12 a week. The price of popcorn is $3 a bag, and the price of a smoothie is $3. 1. Calculate Sara's real income in terms of smoothies. Calculate her real income in terms of popcorn. What is the relative price of smoothies in terms of popcorn? What is the opportunity cost of a smoothie? 2. Calculate the equation for Sara's budget line (with bags of popcorn on the left side). Draw a graph of Sara's budget line with the quantity of smoothies on the x-axis. What is the slope of Sara's budget line? What determines its value?

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STUDY PLAN PROBLEMS AND APPLICATIONS MyLab Economics Work Problems 1 to 11 in Chapter 9 Study Plan a...

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