Social Studies, 14.06.2021 07:10, jacob7542

Suppose the income of the consumer is M, which is equal to Rs. 20 and the prices of bananas (x1) and mangoes (x2) are p1 and p2
(both prices are equal to Rs. 5 per unit) respectively. The bundles
of products available to the consumer are: (0,0), (0,1), (0,2), (0,3),
(0,4), (1,0), (1,1), (1,2), (1,3), (1,4), (2,0), (2,1), (2,2), (2,3), (2,4),
(3,0), (3,1), (3,2), (3,3), (3,4). The consumer can choose any
bundles as long as they cost less than or equal to the income.
(4) Write the equation of a budget line.
(5) Among these select the bundles which cost exactly equal to the
income of the consumer?
(6) If the consumer wants to select the bundle (3,3), how much more
income is required to buy this combination?

Answers: 3

Show answers

Other questions on the subject: Social Studies

Social Studies, 22.06.2019 00:00, joeyhd

Drag each incentive to the correct location on the chart. nick has been hired as the marketing director of a sporting goods manufacturing company. classify his new job incentives as monetary or nonmonetary.

Answers: 1

continue

Social Studies, 22.06.2019 07:30, yoongnzl

Ineed ! what is the best way to combat test anxiety? a. prepare thoroughly for the test c. picture yourself getting an a b. take deep breaths during the test d. none of these

Answers: 2

continue

Social Studies, 22.06.2019 18:00, herchellann302

The most effective way to provide children with safety messages is to

Answers: 1

continue

Social Studies, 22.06.2019 21:40, superfly903

Danilo has been working for metropolitan taxi for three months. he expected that his job would be to drive around the city, pick up fares, and drop them off at their desired locations, but in his first few days on the job he realized that the job entails much more. he must keep his taxi cab clean and neat, and some days he will be stationed at the shop and go to people's houses to pick them up and bring them to the local airport. within a few months, he has learned that taxi drivers often express frustration with the people they call "civilians"—that is, non–taxi drivers, whose driving skills they complain about incessantly. in his first few months on the job, describes what danilo is undergoing.

Answers: 2

continue

Do you know the correct answer?

Suppose the income of the consumer is M, which is equal to Rs. 20 and the prices of bananas (x1) an...