Budget Selections to Build Demand As a commuter you have a budget of $250 to spend on gasoline each month. You drive a car that gets 20 miles per gallon (MPG). You can purchase 100 gallons of gasoline per month at the current price of $2.50 per gallon Demand Schedule Price Quantity Commuting Errands Social Activities Vacations $2.50 97.5 Drive Alone (700 miles) Small Trips as Needed (550 miles) Trips to City (350 miles) Out of State (350 miles) $3.00 Current price: $3.00/gallon Car Pool (425 mies) 2x per week (300 milel Trips to Local Park (120 miles) In State (200 miles) Add to schedule $3.50 Public Transportation (60 miles) 1 Tripper Week (150 ml) Stay in Neighborhood (40 miles) Staycation (50 ml) $4.00 QUANTITY 35 175 175 97.5 gallons $4.50 . COST $105.00 142.50 $52.50 $292.50 of $250

Budget Selections to Build Demand As a commuter you have a budget of $250 to spend on gasoline each month. You drive a car that gets 20 miles per gallon (MPG). You can purchase 100 gallons of gasoline per month at the current price of $2.50 per gallon Demand Schedule Price Quantity Commuting Errands Social Activities Vacations $2.50 97.5 Drive Alone (700 miles) Small Trips as Needed (550 miles) Trips to City (350 miles) Out of State (350 miles) $3.00 Current price: $3.00/gallon Car Pool (425 mies) 2x per week (300 milel Trips to Local Park (120 miles) In State (200 miles) Add to schedule $3.50 Public Transportation (60 miles) 1 Tripper Week (150 ml) Stay in Neighborhood (40 miles) Staycation (50 ml) $4.00 QUANTITY 35 175 175 97.5 gallons $4.50 . COST $105.00 142.50 $52.50 $292.50 of $250

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter3: Your Role As A Consumer

Section3.3: Consumerism

Problem 5R

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