User Account

All Pages

What is the slope of the budget constraint

Assignment Help Microeconomics
Reference no: EM13110208

Suppose a consumer has $600 to spend on two goods, Good X and Good Y. The price of Good X is given by PX = $20. The price of Good Y is given by PY = $15. Graph the consumer's budget constraint.

Please put the quantity of Good X on the horizontal axis, and the quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately. What is the slope of the budget constraint?

Reference no: EM13110208

Questions Cloud

Compare dna to a cookbook : Compare DNA to a cookbook. The book is kept in a library and cannot be checked out (removed). Start with the letters and words in the cookbook compared with the bases and codons in DNA; end with the amino acid chain being folded into a protein, an..
What happens to the mice on either side of the valley : A very heavy rainstorm floods a mountain river, changing its course and digging a deep canyon through the soft soils of the meadow in the valley below. What happens to the mice on either side of the valley?
Necessary assumption of population distribution : A newspaper article discussed the opening of a Whole Foods Market in the Time=Warner building in NYC. What assumption is necessary about the population distribution in order to perform the test
Explain the basis for the symptoms : Robert, a smoker, is 52 years old. He has elevated blood pressure, in part, due to an elevated erythrocyte count. Knowing that smokers often have reduced plasma O2 levels, explain in detail (in a paragraph) why his erythrocyte count is elevated.
What is the slope of the budget constraint : Please put the quantity of Good X on the horizontal axis, and the quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately. What is the slope of the budget constraint?
Determine that average closing costs lies in given range : She chooses 40 new home sales at random and determine that average closing costs are $6600. Standard deviation of population is $120. Test her belief at µ = 0.05.
Organizational problems with transnational strategy : What do you see as the main organizational problems that are likely to be associated with implementation of a transnational strategy? Explain.
Five step hypotesis test of real estate data : Formulate both a numerical and verbal hypothesis statement regarding your research issue. Perform the five-step hypothesis test on data pertaining to your selection.
What is the genotype of for erminette chickens : The heterozygous phenotype is known as erminette. what is the genotype of for erminette chickens?

Reviews

Write a Review

 

Microeconomics Questions & Answers

  Discuss the impact of globalization

Select a United States company with global operations. Discuss the company's activities outside the United States and Discuss the impact of globalization

  Analyze the steps of agenda setting and policy formulation

Examine the steps of agenda setting, policy formulation, and policy implementation for a public policy on energy and evaluate factors that may influence agenda setting, policy formulation, and policy implementation energy policy.

  Determining average and marginal product

Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.

  Effect of increase in demand-supply on equilibrium

Show the impact on the equilibrium price and quantity that results from; (1) an increase in demand and (2) an increase in supply.

  Determine the substitution and output effects on labor

The technology of a company making high end, solid gold bracelets in Soho (NYC) is explained through the production function;

  Variable costs and economies of scale

What business will you go into, and what will comprise your fixed and variable costs? How could your business take advantage of economies of scale?

  Examples of competitive markets

Write down the some real-life examples of monopolistically competitive, oligopoly, and monopoly markets.

  Question about money multiplier

Suppose that the banking system is in reserve equilibrium. The Fed conducts an open market buy of Treasury securities in the value of $1 billion.

  University pricing strategy

What market structure best characterizes the market in which universities compete? How does this structure influence the university's pricing strategy?

  Oligopolistic market and monopolist market

What are the advantages and disadvantages of the oligopolistic structure? How would an increase in a monopolist's fixed costs affect its profit-maximizing choice of price and quantity?

  Cost-output relationships

For each of following cost-output relationships, explain the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions

  Explain why the yield curve for lower quality bonds

Calculate both Macaulay and modified durations of the 8-year, 8.5% coupon bond given a flat yield curve at 10% and explain why zero coupon bonds have a higher Macaulay Duration than coupon paying bonds of the same return.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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