thara2001smc thara2001smc

13-05-2024
Business

Answered

Derive the consumer's Budget Line for each of the following situations and plot them on the same graph you used above to show Indifference Curves (consider that Price of food - Pf and Price of entertainment - Pe) Prepared by Prof. Udith K. Jayasinghe-Mudalige Page 1 of 2 i) Pf = 50 cts; Pe = 50 cts ii) Pf = 50 cts; Pe = $1 iii) Pf = $1; Pe = 50 cts iv) Pf = 40 cts; Pe = 50 cts, and allowance is increased by 25% v) Pf = 50 cts; Pe = 50 cts, and allowance is cut by 50%. Discuss under what conditions of above the consumer is 'better off and 'worse-off'. Why?

Derive the consumers Budget Line for each of the following situations and plot them on the same graph you used above to show Indifference Curves consider that P class=

Answer :

Other Questions

Select the best answer for the question.Since 1950, the number of working mothers in our country has:A. increased slowly.B. stayed the same.C. increased rapidly

Simplify the expression:[tex]\[ \frac{2 \times 3 - 3x^2 + 4x}{2x^2 - 3} \][/tex]

Which lines from "Sonnet in Primary Colors” by Rita Dove provide an example of a rhyme? “This is for the woman with one black wing / perched over her eyes: lov

Evaluate:[tex]\[ -2^3 = \][/tex]

Find the exact value without a calculator.[tex]\[ \tan \frac{7 \pi}{12} = -\sqrt{\frac{\square + \sqrt{\square}}{\square - \sqrt{\square}}} \][/tex]Half-Angle F

3. When tires are skiing on top of water and not touching the roadway, this is called:A. Hydroplaning B. Hydroponics C. Hydrodynamic D. Hydrostatics

3. In a series circuit, there are 12 light bulbs, each providing 1 ohm of resistance. What is the total resistance?A. [tex]\( \frac{1}{12} \)[/tex] ohmsB. 12 oh

Questions [tex]$105-110$[/tex]105. The table below shows the number of times that different desserts were ordered at a restaurant.\begin{tabular}{|c|c|}\hline D

A number [tex]\( a \)[/tex] is a root of [tex]\( P(x) \)[/tex] if and only if the remainder, when dividing the polynomial by [tex]\( x - a \)[/tex], equals zero

10. (03.05 MC)Based on this chart, what is the marginal cost, in dollars, to produce four jackets? (5 points)\begin{tabular}{|c|c|c|c|c|}\hlineQuantity of Jacke