samantha earns a weekly income of $6000.suppose  she wishes to spend this on income on two goods books and dressonly. A book costs $200 while adress costs $600. Draw samantha budget line. putting books on y axis. suppose her income increase to 90 per week illustrate what happens budget line (B) list and explain three properties of indifference curve.

Q: Given the table below, draw the indifference curve and find the slope between point B and C.

A: The curve that represents different quantities of goods that help in providing the consumer with the…

Q: At two points on an indifference curve,a. the consumer has the same income.b. the consumer has the…

A: Indifference curve is the locus of combination two goods for which the consumer derives the same…

Q: Millet (a type of grain cereal eaten my many in the developing world) and rice are normal goods…

A: Change in the price of a good leads to the change in quantity demanded through two effects,…

Q: ne slope əpna əl c. What is the slope of the indifference b. IS curve (MRS)? d. Write the intuition…

A: Marginal utility is the added satisfaction that a consumer gets from having one more unit of a good…

Q: 7. Mr Kabelo has R1000 to spend on meat and rice. The price of meat is R250 per portion while that…

A: Note: Since you have asked more than one individual questions, we are going to answer the first…

Q: Figure 2 10 30 Hotdogs (number per week) 3. Figure 2 shows Ronald's budget line. He has weekly…

A: The budget line, sometimes also called the budget constraint, shows all of the possible combinations…

Q: Q.4 Consumer attains his/her equilibrium at a point where the budget line: (a) Is below indifference…

A: Indifference curve: - it is the graphical representation of different combinations of two goods that…

Q: Millet (a type of grain cereal eaten my many in the developing world) and rice are normal goods…

A: The demand function is a relationship between the customer's demand for a product and its cost when…

Q: art 3   Ben always begins his day with a latte. He makes it by adding coffee and milk in the…

A: Ben always begins his day with a latte. He makes it by adding coffee and milk : In other words,…

Q: 3) Diminishing marginal rate of substitution can be seen when indifference curves A) become flatter…

A: Typically, marginal substitution is lessening, meaning a shopper picks the substitute instead of…

Q: Explain the consumer’s Preferences and the Indifference Curv

A: Economics: It is the study of the manner of organizing money, business and industry.

Q: Donuts Indifference Curve 3 D Indifference Curve 2 Indifference Curve 1 Cake to Figure#4 Which of…

A: As they lie on same IC so A give same satisfaction then D and thus are more preferred.

Q: Indifference Curve and Budget Line (20%)  Annie has an income of $240 an hour. Popcorn costs $8 a…

A: * SOLUTION :-  (4)

Q: (d) What point in the graph will lead to utility maximizing with the budget line LZ and the…

A: The budget line is a graphical representation of all potential combinations of the two commodities…

Q: Explain consumer equilibrium with the help of indifference curve. Also discuss the practical…

A: Consumer Equilibrium is the situation in which consumer spends his given income on one or two goods…

Q: Abhishek's utility function is: U = min {2x- y, 2y–x} %3D Which letter resembles Abhishek’s…

A: Utility: - Utility is the satisfaction derived by any consumer from consuming a good or service.

Q: Q;mariyam utility function is U(x,y)=x^0.80y^0.20.suppose that the price of x is 5,the price of y is…

A: U(x,y)=x^0.80y^0.20 PX = 5 Py = 10  M = 100

Q: Explain why indifference curvesa. are downward sloping.b. are convex to the origin.c. do not cross.

A: The indifference curve shows all the different combinations of two goods that provide the same…

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. Write the equation for the MRSMC (i.e., the MRS of C for M; M is increasing, C is decreasing).…

A: In economics, the marginal rate of substitution (MRS) is the quantity of one good that a customer is…

Q: Sanjana loves to read books(B) and likes to watch movies(M) as well. She derives double the…

A: In the case of perfect substitutes, the consumer would spend all of her budget on that good which…

Q: (a) Explain why point A is preferred over point B in the diagram below: Clothing Budget line…

A: With respect to two commodities, an indifference curve is a graph that depicts the combinations of…

Q: Consider the bundle 2 pizza and 8 coke. Label this point. What can you say about the slope of the…

A: Indiffernce curve graphical representation of the combination of two goods that the consumer is…

Q: (a) (b) White Left Pink Right (c) (d) Rice Income Increasing Utility Potatoes Polluted Refer to…

A: Perfect complements goods are those goods which are use together. for example right shoes and left…

Q: Which of the following does NOT describe the optimal choice condition slope of budget constraint =…

A: Indifference curve: - it is the graphical representation of different combinations of two goods that…

Q: e marginal rate of substitution measures the distance between one indifference curve and tne •True

A: Marginal Rate of Substitution : The Marginal Rate of Substitution can be defined as the amount of…

Q: Discuss the income and substitution effect of consumer equilibrium with indifference curve. Also…

A: Indifference curve: It refers to a curve that shows the set of goods and services the consumer has…

Q: With the help of indifference curve diagram (gift goods on one axis and all other goods on the…

A: Indifference curve is based on the ordinal utility analysis of Hicks and Allen. It represents the…

Q: Explain in detail what are indifference curve and what do they measure. What are the three…

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first three…

Q: If Brian Mulroney's money income increases and the prices of products J and K both increase, then…

A: The line that depicts a combination of both the goods that could be bought by a consumer through the…

Q: Sanjana loves to read books(B) and likes to watch movies(M) as well. She derives double  the…

A: The two goods are substitutes when only one of them is consumed. Linear utility function shows goods…

Q: Draw hypothetical consumer’s indifference curves for Soft-drink and Pizza. Describe and explain four…

A: IC(indifference curve) shows the locus of various points (combination of different quantities of 2…

Q: 3.7 (0) Joan likes chocolate cake and ice cream, but after 10 slices of cake, she gets tired of…

A: Answer - Part (0) Answer -

Q: Amy enjoys eating muffins and scones. The following graph displays one of Amy's indifference curves,…

A: The MRS is the amount of a product that a consumer is willing to sacrifice in order to get 1 unit…

Q: Using Figure explain why the point of tangency of the budget line with an indifference curve is the…

A: Budget line represents all possible combination of two goods on which a consumer spends all his…

Q: Which of the following is NOT true about indifference curves? O They are downward sloping O They do…

A: An Indifference curve is a locus of the combination of all the points that represent a different…

Q: Set 2: Budget line & Indifference curve 1 Diagram the following budget constraints: $4,000; Px $50;…

A: Budget line shows the different possible combination of two goods that can be purchased within the…

Q: 4. One of the following is not true about the characteristics of well-behaved indifference curves:…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 07 Assumption on which indifference curve is based: (a) Marginal rate of substitution is falling.…

A: # The correct answer is (D)

Q: The figure below shows two of Josie's indifference curves between peaches and cream, as well as her…

A: The graph shows two indifference curves and one budget line. The utility maximization condition of…

Q: We know that a certain consumer spends on two goods, one of which is salts and the other one is a…

A: Engel curve shows relationship between income and quantity of good consumed.

Q: above utility functions satisty the declining MRS property? (Hint Graph some indifference curves and…

A: U(X, Y) = X + XYMRS = MUxMUy = 1+YX Hence, this satisfies declining MRS property   V(X, Y) = 1X+…

Q: In your own words, explain what indifference curves are. Give 4 properties of indifference curves.

A: (Q) In your own words, explain what indifference curves are. Give 4 properties of indifference…

Q: Qu Robert's utility function is U(1, y) = 2/T + y. n every graph for this question, set y in the…

A: U(x,y) = 2x + y

Q: 5. Income Effect & Substitution Effect (20%)- (still use budget line with energy drink on the…

A: Income = $160 Price of energy drink = $2 Price of the bag of popcorn= $5 let the number of drinks be…

Q: ence curve and Discuss the properties of Indifference curv

A: Indifference curve(IC) is the locus of various combinations of commodities yielding same utility. If…

Q: Ersen likes to consume apples and bananas. Suppose Ersen's income doubles and the prices of apples…

A: The utility is the satisfaction that consumers gain by consuming goods and services. Consumers…