Draw an individual choice diagram for a person choosing between buying apples or bananas with a budget constraint. Be sure to label the curves and optimizing solution set of Qb and Qa.  Explain why individuals make choices that are directly on the budget constraint, rather than inside the budget constraint or outside it.

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A: Answer is given below

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A: (16) Answer: Given Information, Marginal Product (MP) = 10 - X Output price = 3 Variable Price (Let…

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Q: "Ella consumes positive quantities of both jam and juice. The price of jam is 5 cents per unit and…

A: Price of jam = 5 cents  Price of juice = 10 cents  Marginal utility of jam = 10 Marginal utility of…

Q: 50 40 30 20 10 200 400 600 B00 1000 Quantity per period Suppose there are no fixed costs and…

A:

Q: 10. A type of corruption where policy implementation skewed to the advantage of some is term........…

A: Corruption is an illegal activity which is strongly banned by the law.

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A: Answer -

Q: "Ella consumes positive quantities of both jam and juice. The price of jam is 5 cents per unit and…

A: Given: Marginal utility of jam=10 Marginal utility of juice=5

Q: In the below graph, which of the following could cause a change from SRAS1 to SRAS2? Price level (P)…

A: Answer -

Q: e difference between the top and the tom is 10 percent) what is the maximum ssible change in the…

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A:

Q: Discuss one or more examples of an opportunity cost an accountant might not count as a cost.  As…

A: Opportunity costs represent forgone benefits from a next best alternative.

Q: C = 450 + 0.4Y 1= 350 G = 150 X = 70 Z= 35 + 0.1Y T= 0.15Y Yf = 1550 Q.2.3 Calculate the equilibrium…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, I will be…

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Q: B SRAS, A SRASO SRAS2 E AD Y Y 1. Assume that the economy starts at point A and there is a drought…

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Q: Tollowing one-penod model. Consumer Utility function over consumption (C) and leisure (L) 11 U(C.L)…

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Q: (b) Suppose the following consumer's have the reserve prices (Table 1) for two goods, sold by the…

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A: The answer is as follows:-

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Q: Where does the United States rank on efficiency ofhealth care?

A: Answer is given below

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Q: Keynesian economists believe government intervention in the economy is necessary because a) supply…

A: Keynesians accept that buyer demand is the essential main impetus in an economy. Accordingly, the…