c.Define a budget line d.Given that Tebogo's income is P1800 price of food is P30 and price of entertainment is P40, Draw tebogos budget line. e.Using a diagram, show waht would happen to Tebogo,s budget line if income increases from P1800 to P2100 while prices remain P330 for food and P40 for entrtainment.
c.Define a budget line d.Given that Tebogo's income is P1800 price of food is P30 and price of entertainment is P40, Draw tebogos budget line. e.Using a diagram, show waht would happen to Tebogo,s budget line if income increases from P1800 to P2100 while prices remain P330 for food and P40 for entrtainment.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 4SQP
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c.Define a budget line
d.Given that Tebogo's income is P1800
e.Using a diagram, show waht would happen to Tebogo,s budget line if income increases from P1800 to P2100 while prices remain P330 for food and P40 for entrtainment.
f.Using a diagram, show what would happen to Tebogo's budget line if income increases from P1800 to P2100 while prices remain P30 for food and P40 for entertainment.
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