What are the effects of the changes on the budget line

Assignment Help Microeconomics
Reference no: EM13317794

Originally the consumer faces the budget constraint p1x1+p2x2=m, then the price of good 1 doubles, the price of godd 2 becomes 8 times larger and income becomes 4 times larger. what are the effects of the changes on the budget line.

Reference no: EM13317794

Questions Cloud

What is the minimum acceleration of the car : A small package rests on the horizontal dashboard of a car. If %u03BCs = 0.327, what is the minimum acceleration of the car
Compute azimuth of line pc to point p and chord distance : Given the stationing in meters as (4+56) for the PC of a horizontal curve of radius R=1200 meters and angle I=22°. The azimuth of the line PC to PI as AzPC-PI = 155° 30'. A point P is to be located on the curve at stationing of 7+00.
Which barrier is the most restrictive to exporters : 1.which barrier is the most restrictive to importers ? which barrier is the most restrictive to exporters ?
What is the original speed of the man : A man is racing with his son has half the kinetic energy of the son, who has half the mass of the father. What is the original speed of the Man
What are the effects of the changes on the budget line : Originally the consumer faces the budget constraint p1x1+p2x2=m, then the price of good 1 doubles, the price of godd 2 becomes 8 times larger and income becomes 4 times larger. what are the effects of the changes on the budget line.
Determine the breakeven number of visitors per year for ride : Two new rides are being compared by a local amusement park in terms of their annual operating costs. The two rides are assumed to be able to generate the same level of revenue (and thus the focus on costs).
What is the normal force of the seat pushing up on her : A 75 kg person travels in a car at 50. mph over a hill. The radius of curvature at the peak of the hill is 90. m. What is the normal force of the seat pushing up on her
How do i know whether these goods are complementary or not : How do I know whether these goods are complementary or not?
Show a meaningful block diagram : Show a meaningful block diagram and a brief description of its architecture and summarize the key architectural features of these microcontrollers that you, as a designer, view important.

Reviews

Write a Review

Microeconomics Questions & Answers

  Explaining business strategy

Give an example of how you would use this information to set the price for your product in the market place and explain one factor in detail about how shifting demand and supply curves makes market demand estimation difficult

  What happened to the market if the market is competitive

the oil price schok of 1980 sent gasoline prices sharply higher. Coal prices moved in sympathy with oil prices, with the result, that coal companiesearned pure economic profits. Since coal is homogenous good and the market is competitive , what ha..

  What would be the combined effect of the summer events

Summer is traditionally a time of increased demand for oil because of the many families driving and flying to vacation sites. What would be the combined effect of these two events on the summer market for gasoline

  Analysis of demand and supply functions

Demand and supply functions of tomato are listed below, The maximum value of tomatoes that manufacturer will offer for sale if the price of tomatoes is $ 0.30

  What is the equilibrium quantity of milk if the market price

The demand for milk is given by Q=120,000-20,000P. a. What is the equilibrium quantity of milk if the market price is $3.00? b. What is the equilibrium quantity of milk if the market price drops to $2.90?

  Evaluate the price elasticity of demand

Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for $10, then the price elasticity of demand equals

  Find who is the current chairman of the fed

What is the Federal Reserve (Fed) all about Which Federal Reserve District Bank is closest to you Who is the current Chairman of the Fed Should the Fed remain independent from political authority or should the President and Congress have a say in ..

  When economy will be at the golden rule steady state

If the marginal product of capital net of depreciation equals 10 percent and the rate of population growth equals 2 percent what must be the rate of technological progress for the economy to be at the Golden Rule steady state

  Why is pricing of gillette safety razor of two-part tariff

Why is the pricing of a Gillette safety razor a form of two-part tariff Must Gillette be a monopoly producer of its blades as well as its razors Suppose you were advising Gillette on how to determine the two parts of the tariff.

  How is unemployment measured and reported

What is a discouraged worker? Are they included in the basic unemployment rate? Are they included in any measure of unemployment? How has the number of discouraged workers changed since 2008? How does the exclusion of the discouraged worker affect..

  What is the equilibrium level of income

How would a change in the nominal exchange rate affect competitiveness in the short run when prices are sticky and business executives and policymakers are often concerned about the competitiveness of American industry

  Trade restrictions effects on exchange rates

Trade Restrictions Effects on Exchange Rates. Suppose that the Japanese government relaxes its controls on imports through Japanese firm.

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