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# Econ 302 Homework #1 McLeod Due in class Wednesday, January 23rd. Name ______________________________________________________ ID #...

Finish the word file. It is econ questions. Thank you.
1 . (8 points) Suppose you have \$24 to spend on either tea (T) or sugar (S). Tea costs \$.80 per cup and sugar costs \$.5 per spoonful. Using a graph, illustrate your budget constraint. Please put the number of cups of Tea on the vertical axis and the number of spoonfuls of Sugar on the horizontal axis. You may assume that you can purchase any amount of tea or sugar (for example, you could buy ½ cup of tea). What is the Marginal Rate of Transformation between tea and sugar?
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Econ 302 Homework #1 McLeod Due in class Wednesday, January 23rd. Name ______________________________________________________ ID # ________________________________________________________...

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