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

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