What is the trade-off between junk food and gasoline

Assignment Help Econometrics

Reference no: EM131142500

Kathy, a college student, has $20 a week to spend; she spends it either on junk food at $2.50 a snack,
or on gasoline at $2 per gallon. Draw Kathy's opportunity set. What is the trade-off between junk food and gasoline? Now draw each new budget constraint she would face if

(a) a kind relative started sending her an additional $10 per week;

(b) the price of a junk food snack fell to $2;

(c) the price of gasoline rose to $2.50 per gallon. In each case, how does the trade-off between junk food and gasoline change?

Reference no: EM131142500

Questions Cloud

Tips for improving your memory : Write a persuasive essay on the topic "Tips for improving your memory"

Explain how to derive new classes from base classes : Explain how to derive New Classes from Base Classes. Describe classes, including constructors, methods, data, value, and reference types. Provide examples and uses in VB & C# languages.

Explain requirements and the sequence of licensure process : Explain the requirements and the sequence of the licensure process in the state where you plan to practice. You must cite the source from where you obtain the state licensure information. ( the state I reside in is New Jersey)

Provide an appropriate vertical alignment : What length of the existing level highway must be reconstructed to provide an appropriate vertical alignment?

What is the trade-off between junk food and gasoline : Kathy, a college student, has $20 a week to spend; she spends it either on junk food at $2.50 a snack,or on gasoline at $2 per gallon

Design vertical alignment to connect between two stations : Design a vertical alignment to connect between these two stations using a 50-mi/h design speed. Provide the lengths of the curves and constant grade section.

What are some of the opportunity costs of going to college : What are some of the opportunity costs of going to college? What are some of the opportunity costs a state should consider when deciding whether to widen a highway

What is the lowest grade possible : What is the lowest grade possible for the constant-grade section that will complete this alignment?

Explain if avoidance training would be beneficial or not : Describe the four schedules of reinforcement (not continuous reinforcement but the variable schedules). Apply the schedules to specific scenarios. Describe the behavior patterns that result from the various schedules from both the experimental lite..

User Account

All Pages