A consumer has income of $3,000. Coke costs $3 per glass, and cheese costs $6 per pound. Draw the consumer's budget constraint. What is the slope of this budget constraint?

Q: Question 1 Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per…

A: M  spends all her income on  food and clothing. M=$2,000PF=$5PC=$20

Q: alex has a budget of $100 a month for a movie tickets and restaurant meals. A movie ticket will cost…

A: Income per month(M) = $100 Two goods: Movie ticket(M) & Restaurant meal(R) Price of Movie ticket…

Q: 10) A consumption points inside the budget line A) is unaffordable. B) shows that the consumer…

A: A budget line shows all the possible combinations of two goods that a consumer can buy with the…

Q: Birgitta spends 150 shillings per month on coffee and buns at the cafeteria. A cup of coffee costs…

A:

Q: Suppose that you have an income of $20 to spend on sticky hands and gumballs. Both cost $1.00.…

A: Preferences: Sticky hands(y) and Gumballs (x) Total Income (M) = $20 Price of Sticky hand (Py) = $1…

Q: Draw budget constraint if he has income of Rs. 1000 which he can spend on buying Pizzas and Pepsi…

A: Consumer's budget constraint :-  It is the inequality cost less than or equal to his income.

Q: A consumer has income of $3,000. Fresh Juice costs $3 per glass, and cheese costs $6 per pound.…

A: On horizontal axis we have taken cheese and on vertical axis we have taken juice.  • With an income…

Q: Draw and label the following budget curves on a clearly labeled graph. A consumer uses their full…

A: A budget line is one which shows various combinations of two goods that a consumer can purchase by…

Q: Suppose Cawlin has a budget of $90 that he spends on movies Q) and roller skating (Qal. The price of…

A: a budget constraint represents all the combinations of goods and services that a consumer may…

Q: Melanie has an income of $140 which she can spend on tea at $8 per cup or used clothes at $20 per…

A: Budget line shows the graphical representation of Budget Constraints, which shows the how much…

Q: Draw Shahab's budget constraint if he has income of Rs. 1000 which he can spend on buying Pizzas and…

A: Budget constraint is the graph that represents the maximum purchases of the product and services…

Q: Donald derives utility from only two goods, carrots (Q.) and donuts (Qa). His utility function is as…

A: Utility is the satisfaction that a consumer derives from the consumption of a good. Indifference…

Q: If a household has an income of $50 and buys only milk at $3 each unit and honey at $6 each unit,…

A: Answer: Introduction: Budget constraint or equation: The budget equation shows that the consumer's…

Q: The consumer is in equilibrium at a point where the budget line

A: Consumers are balanced at the intersection of the budget lines.

Q: Troy has preferences for laptops (L), and drones (D).  Laptops costs $750 a unit and drones costs…

A: Answer: Given, Price of LaptopsPL=$750 per unitPrice of DronesPD=$2000 per unitTotal budgetM=$15,000…

Q: If the consumer's income rises to $100 while the prices of pizza and cola are constant, then the…

A: Budget line would increase and rotate outwards towards cola axis.

Q: What information is embodied in a budget line? What shifts occur in the budget line when money…

A: A budget line represents all the bundles i.e. combination of two goods which a consumer can buy with…

Q: Originally the consumer faces the budget line p1x1 + p2x2 = m. Then the price of good 1 doubles, the…

A: Budget line shows all possible combination of two goods that consumer is able to consume when…

Q: Originally the consumer faces the budget line p1x1 + p2x2 = m.What happens to the budget line if the…

A: "Budget is an estimate of earnings and expenses of a household, business or the government. "Budget…

Q: How does a consumer’s optimal choice of goods change if all prices and the consumer’s income double?

A: If prices and consumer’s income will be double then there is no effect in budget constraint and it…

Q: A consumer has income of $3,000. Wine costs $3 a glass, and cheese costs $6 a pound. Draw the…

A: Total income of the consumer = $3000 The cost of a glass = $3 The cost of cheese = $6

Q: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per unit are: PF =…

A: Given that: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per…

Q: A consumer has preferences over two goods, coconuts and fish. The consumer prefers more of each good…

A: Indifference curve represents the combinations of two goods between which the cunsumers are…

Q: Susan has the option to purchase eyeglasses, E, $3 each, and orange juice,O, $1 each. Her income is…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Kawther’s income is OMR12 a week. The price of small-sized pizza is OMR3, and the price of a fresh…

A: 1. The budget line equation is given below.

Q: 1.Originally the consumer faces the budget line p1x1 + p2x2 = m.If the price of good 1 doubles and…

A: Microeconomics studies the economic behavior of individual units such as a seller, a consumer, a…

Q: What is the value of the x-intercept?  What is the value of the y-intercept?  What is the slope of…

A: Budget constraint is defined as the combinations of all the goods and services that a consumer…

Q: A student has a monthly budget of $120 to spend on either burritos, which cost $6 each, or sodas,…

A: Budget constraint refers to all possible points of consumption where the consumer utilizes its full…

Q: A consumer has an expenditure function given by E = Ū (²² +). When the consumer has an income of…

A: The expenditure function provides the minimum cost that a consumer incurs to achieve a certain level…

Q: Which budget constraint panel in Figure below shows the combined effects of an increase in the price…

A: Changes in prices  lead to shift in budget curve  If price increases it reduces the purchasing power…

Q: Suppose Cawlin has a budget of $90 that he spends on movies (Q) and roller skating (Qa. The price of…

A: The budget constraint of a consumer is the maximum amount of two goods which a consumer can buy…

Q: .A consumer that chooses to spend all of her income, and she dislikes most the two extreme points…

A: Since, the consumer dislikes the extreme points of consuming only one of the goods, so the…

Q: If the price of Apple increases and the price of Oranges decreases, how will it affects the budget…

A: The consumer equilibrium is that condition in which the consumer benefits the maximum from his/her…

Q: A consumer consumes 2 goods, x and y. If the price of_good x trebles and the price of good y doubles…

A: Answer: Let us understand this with an example. Suppose the consumer initially has $100 and the…

Q: Refer to the information provided in Figure below to answer the question that follow. Molly's montly…

A: Ques 1) We have the following information : Molly's income = 75  Price of DVD = 3 Price of CD = 5

Q: Mr. Haroon has limited income which he spends on goods X and Y, market price of X is Rs. 30 per unit…

A: Given, Price of good X = PX = Rs. 30 Price of good Y = PY = Rs. 40 Let assume the income of Mr…

Q: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per unit are: PF =…

A: Budget line is a line showing various combinations of two goods that a consumer can purchase by…

Q: Hira has Rs.1200 a week to spend on yogurt and mangoes. The price of yogurt is Rs.200, and mangoes…

A: The budget line, additionally referred to as the budget constraint, exhibits all the mixtures of two…

Q: Draw a budget constraint and indifference curves for two goods-cheese and wine. Show what happens to…

A: A budget constraint shows different combinations of two goods that an individual is able to consume…

Q: Which combinations of burritos and sodas are unaffordable--those to the left of the line in the…

A:

Q: Why must a budget constraint have a negative slope? Income and quantity demanded are inversely…

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: PYQY = M, where PX = $2, PY = $1 and M = $10 (M is income) a. What is the slope of the budget…

A: The ‘optimal choice’ of the goods of the consumers is dependent on the income of the consumers. The…

Q: Red yarn costs $4 per yard. blue yarn costs $4 per yard. A) Graph the budget constraint and the…

A: budget constraint represents all the combinations of goods and services that a consumer may purchase…

Q: Diagram the following budget constraint where Income - $10,000, Px – $100 and Py - $250.

A: Budget constraint shows the combination of two goods  that the consumer can purchase with the given…

Q: A student has a monthly budget of $120 to spend on either burritos, which cost $6 each, or sodas,…

A: Budget line shows or exhibits the different combinations of two goods that a consumer can buy with…