Draw marthas budget constraint-using in difference curves

Assignment Help Business Economics
Reference no: EM131009661

Suppose that Martha’s income is $40,000 per year. She can spend it on health care visits, which cost $80 per visit, or on groceries (standing for all other goods) which cost $100 per bag of groceries.

Draw Martha’s budget constraint. Using in difference curves, show Martha’s optimum if she buys 300 bags of groceries per year.

Suppose that Martha’s income rises to $42,000 per year, and that she increases her consumption of healthcare visits by five visits. Using the graphs for Exercise, draw the new equilibrium.

Reference no: EM131009661

Total number of orders recorded

Write a query that shows only the three highest (in order) day/shift combinations, based on the total number of Orders recorded. Display the English day name in the result.

What is the optimal level of output for a monopolist

What is the optimal level of output for a monopolist? What is a monopolist price? What is the total profit (or loss)? Show answers to (a), (b), and (c) on a graph that include

Market for plastic toothpicks most closely resembles

Pick Industries produces plastic toothpicks that it sells to distributors in the Southwest. During the early 1990s, the price of the plastic it uses to produce toothpicks fell

Comment on the difficulty of calculating opportunity costs

Comment on the difficulty of calculating opportunity costs (the economic concept) as compared to accounting costs (explicit costs). Do you have any suggestions for making the

Explain the downward slope of aggregate demand curve

Which of the following explain the downward slope of the aggregate demand curve the effect of changing interest rates on the quantity demanded of interest rate since of goods

Considering two types of automobiles

You are considering two types of automobiles. Model A costs $18,000 and has a salvage value of $9,000 after 4 years. Model B costs $15,624 and has a salvage value of $6,500 af

Company has linear demand curve and cost function

In 2014, Coca-Cola announced that top executives would have bonuses linked to the company’s revenue from soft-drink sales. Explain whether the company’s annual profit will nec

Perfectly competitive firms profit-maximizing price

A perfectly competitive firm’s profit-maximizing price is $15. At MC = MR, the output is 100 units. At this level of production, average total costs are $12. The firm’s econom


Write a Review

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