Given that Tebogo's income is P1800, price of food is P30 and price of entertainment is P40. Draw Tebogo's budget line

Q: Marge also buys pizza for $10 and Pepsi for $2.She has income of $200. Her budget constraint…

A: Budget constraint refers to the amount of expenditure incurred by a consumer to make purchases at…

Q: If the price of one good changes, what happens to the relative price and the slope of the…

A: The budget line shows the combination of two goods that can be be purchased by the consumer given…

Q: What is the concept of diminishing marginal utility of consumers? How consumer use Marginal Rate of…

A: "Marginal utility represents the addition to the total utility from consuming one more unit of the…

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

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Q: In the diagram, Tanisha originally selects her consumption bundle at point A with 3 pounds of olives…

A: The theory of demand says that with an increase in price the demand for the commodity falls. Thus,…

Q: Which graph shows a change in the price of X, but no changes in the price of Y and in the buyer's…

A: Shift in the budget line is due to the factors other than the change in the price of goods. When the…

Q: For months now, Agnes has had $20 per month to spend on tea and scones. The price of a cup of tea…

A: budget constraint: PxX + PYY = m, where m is the income of the consumer…

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: With the help of a graph, explain how the decrease in the income affect the consumer's choice for…

A: The demand for goods, and services comes from the buyers, or consumers of those goods, and services.…

Q: Akram spends all of his income on food and clothing. When the price of clothing decreases, he buys…

A: If an item's price increases, the substitution effect occurs, resulting in a drop in profits due to…

Q: given that Tebogo's income is P1800, price of food is P30 and price of intertainment is P40. draw…

A: a) Price of food, PF = P30 Price of entertainment, PE = P40 Tebogo's income = P1800 Budget equation…

Q: Tammy spends her money on lemonade and iced tea. If the price of lemonade falls, it is as though her…

A: A person's income is nothing but the number of goods and services they can purchase within their…

Q: Rummy has $40 a week to spend on burger and cake. The price of burger is $5 and the price of cake is…

A: It is given that the consumer prefers burger (B) and cake (C). The price of B and C are equal to $5…

Q: At any point on an indifference curve, the slope of the curve measuresthe consumer'sa. income.b.…

A: The indifference curve shows the combination of two goods and services which gives the same constant…

Q: a) Jim buys gingerbread and candy, both of which are normal goods. When the price of gingerbread…

A: Income effect refers to the change in the quantity of good due to change int he price of that good,…

Q: workca wr your groop. 4. Draw a budget line for Lynne, who has a weekly income of 225. Assumte that…

A: Income = $225 Cost of food = $15 Cost of clothes = $25

Q: = 2x₁ + x2. Income = $100. p₁ = 28 and p2 = 10. The utility maximizing quantity of x2 is? Round your…

A: Utility refers to the satisfaction. The aim of the consumer is to maximize the utility subject to…

Q: Daisy is consuming X and Y so that she is spending her entire income and MUx/Px = 12 and MUy/Py =…

A: The indifference curve shows all the combinations of two goods that give the individual's an equal…

Q: Amy has $12 to spend on coffee and soda. The price of coffee is $2 a cup, and soda is $1 a can. The…

A: A budget line is a downward-sloping straight line that contains all potential combinations of the…

Q: Maggie buys peanut butter and jelly, both of whichare normal goods. When the price of peanut…

A: ANS For normal goods both income & substitution effect moves in the same direction. When the…

Q: Given that Tebogo's income is P1800 price of food is P30 and price of entertainment is P40, Draw…

A: Note: Since you want us to solve only subpart (e), we will solve the subpart (e) for you. To get the…

Q: Joann divides her consumption between books and games. Both books and games are normal goods for…

A: The income effect refers to the change in real income due to change in the price of a good. In the…

Q: Question No. 5| Hafidh's income is $200 a month. The price of watch is $25 a show, and the price of…

A: Given, Income = $200 Price of watch = $25 Price of jeans = $15

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: Diana Vreeland has the budget constraints shown below. If Diana Vreeland's the budget line shifts…

A: Initial Budget Line=BB A budget line tells how much units of each good the consumer consumes given…

Q: Explain how a consumer budget and product price changes impact the budget line by drawing…

A: The budget line explains the combination of products to be selected till the last money of budget is…

Q: The income effect of an increase in the price of a normal good that a consumer buys on a regular…

A: The income effect measures the change in demand for goods and services due to a change in the…

Q: Douglas allocates his budget of $24 per week to 3 goods, cereal, books and clothing. Use the table…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: Hafidh’s income is $200 a month. The price of watch is $25 a show, and the price of a Jeans is $15.…

A: The budget line of a consumer is the locus of all maximum combinations of two goods or services the…

Q: c) From the following budget line and the utility function, calculate the amount of two commodities…

A: Budget Constraint is given as:- 2500 = 20X + 30Y Utility Function is given as:- U = 300X0.6Y0.7

Q: Marie has a weekly budget of $2400, which she likes to spend on magazines and pies. If the price of…

A: Income=$2400 Price of Magazine= $40 Price of pie= $120

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: Bob spends all his money on food and clothing. When the price of clothing falls, he buys more…

A: Substitution effect is when the price of one good falls, due to which the given good becomes…

Q: A consumer has initial income of $100 and faces prices of Px = $1 and Py = $5. Graph the budget…

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Q: Suppose Raymond decides to cut his monthly budget in half. Coincidentally, the next time he shops,…

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Q: Hafidh's income is $200 a month. The price of watch is $25 a show, and the price of a Jeans is $15.…

A: Answer a) Given in question is Hafidh's income is $200. The price of the watch is $25 and the price…

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: Artemis attends the University of Calgary. She has an income of $30, the price of A is $3, and the…

A: Here, given information is: Income: $30 Price of A= $3 Price of B= $2 To find: one combination of…

Q: The graph shows the budget line for a consumer who only buys cookies and magazines. If the…

A: Budget line: - it is the graphical representation of different combinations of two goods that a…

Q: 5.1) Jane has RM500 a week to spend on clothing and food. The price of clothing is RM25 and the…

A: Since you have asked multiple questions,  we will answer the first question for you. Individual J…

Q: 1. 1. Rummy has $40 a week to spend on burger and cake. The price of burger is $5 and the price of…

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