Plot the budget constraints on the graph, Microeconomics

1. Let's get some practice plotting budget constraints. On the graph below, plot the budget constraints when:

a. (Use Black): Px = 57,Py = 18, and M = 342.

b. (Use Blue): Px/Py =4/5 and M/Py = 20.

c. (Use Red): M/Px = 14 and M/Py = 16.

d. (Use Pencil): Px/Py =4/5 and the bundle (19, 16) is on the boundary of the feasible set.

1146_Plot the Budget Constraints on the Graph.png

Posted Date: 3/22/2013 2:14:59 AM | Location : United States







Related Discussions:- Plot the budget constraints on the graph, Assignment Help, Ask Question on Plot the budget constraints on the graph, Get Answer, Expert's Help, Plot the budget constraints on the graph Discussions

Write discussion on Plot the budget constraints on the graph
Your posts are moderated
Related Questions
Will Governments Follow Good Policies? That governments can assist in development and growth doesn't mean that governments will. The broad experience of growth in developing ec

What are the possibilities of returns to scale in production technology? Three possibilities are there as: technology exhibits (a) constant returns to scale; (b) decreasing ret

Variable and Total cost curve    * Consequently (from the table which is given): - MC initially decreases with increasing returns  0 through 4 units of output

1. Suppose we observe that the price of soyabeans goes up while the quantity of soyabeans sold goes up as well. Use the supply and demand curves to illustrate two possible explanat


Edge Act A federal law passed in 1919 that are available national banks to accomplish foreign lending operations through federal or state chartered subsidiaries called Edge Ac

What defines the fact that the value of global production has grown by a factor of 4.6, while the value of global production per capita has grown by a factor of 2? The enhance


Much of the supply-side, fiscally conservative economic policies of Margaret Thatcher, Ronald Reagan, and even Mike Harris in Ontario were predicated on the belief that high income

How has the Haberler''s theory of opportunity cost an improvement over the classical theory of trade