Draw budget line for the village under given circumstances

Assignment Help Microeconomics
Reference no: EM132198760

Question: Suppose that all is as in the last part of the question except that there is a transportation cost of $.10 per bushel for every bushel of grain hauled into or out of the village. On your graph, use black ink or pencil to draw the budget line for the village under these circumstances.

Reference no: EM132198760

Questions Cloud

Examine is the given a good investment : Suppose that annual income from a rental property is expected to start at $1,300 per year and decrease at a uniform amount of $50 each year.
Current state of business ethics in the twenty-first century : Discuss the current state of business ethics in the twenty-first century. Give specific examples of ethics used by businesses within the past five years.
Purchase stocks that would change in value : Suppose the S&P 500 was at 2,000 today and in 5 years the S&P 500 is at 8,000. If one would use $10,000 to purchase stocks that would change in value
What is the meaning behind the phospholipids chant : What are transport proteins and why are they important? What would happen to The Cell if the transport proteins went on strike?
Draw budget line for the village under given circumstances : Suppose that all is as in the last part of the question except that there is a transportation cost of $.10 per bushel for every bushel of grain hauled into.
Setup time have on the economic order quantity : What impact does reducing setup time have on the Economic Order Quantity?
What is the markup of markup-cost pricing : If price P, unit costs C, and quantity Q, are known, what is the markup of markup-cost pricing?
Do earthquakes occur around the coastlines of all oceans : If you responded no, give an example of an ocean with no earthquakes around the edges. Do earthquakes occur only along coastlines?
Why the price of strawberries is lower : In the winter, which is the peak season for winter coats, the price of winter coats is typically higher than it so in the summer.

Reviews

Write a Review

Microeconomics Questions & Answers

  What is the rate of return

Suppose you purchase a coupon bond with 20 years to maturity for $1,000. Assume the bondpays coupons of $70 per year.a. Suppose after one year you must sell the bond to help pay for tuition. Assume further thatinterest rates have risen so that the pr..

  Define effective demand

Define effective demand and what it leads to if there is a lack there of the market.

  What economic principle-law explains

The data contained in the following table shows the tradeoffs that occur in an economy that produces only two types of products: pharmaceutical and computer-related technological products. Use the data given in the table to graph the production po..

  Formulate a linear programming (lp) model

Formulate an optimization model to solve this problem such that the total cost, including transportation costs from warehouses to markets and fixed warehouse costs, is minimized while demand is satisfied and capacity is not exceeded.

  What impact would the change which shifts the economys

what impact would a change that shifts an economys production possibilities curve outward have on the long run

  Analysis of the advantages of a competitive market

Questions will involve your analysis of the advantages of a competitive market to both producers and consumers. Use the concepts learned in the chapters on perfect competition, monopoly, and imperfect competition to answer the questions.

  Plenty of empty parking places in designated university lots

Faculty pay $500 per year for a parking permit, however there are plenty of empty parking places in designated university lots. This suggests that:

  Which product is the rational consumer most probable

The book explains a rational consumer as one who will attempt to obtain the most utility for the money. If a consumer derives 12 units of utility from a $2 hamburger, 5 units of utility from a $.50 candy bar, and 22 units of utility from $7.50 movie ..

  Analysis of payback period and net present value

Break into teams and identify four reasons that an international airline such as Southwest or Delta would invest in a project when its direct analysis.

  Can they have a positive consumer surplus

How is it possible that in perfect competition some firms have economic profits equal to zero while others have a positive economic profit. Can they have a positive consumer surplus? Isn't it a contradiction?

  Demand curve of a perfectly competitive firm is horizontal

Explain which of the four characteristics is primarily responsible for the fact that the demand curve of a perfectly competitive firm is horizontal? What is elasticity?

  Find the ethics code for the professional society

Find the ethics code for the professional society of your major. What are its similarities and differences in comparison to NSPE's ethics code?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd