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2. Shifts in a budget constraint Jonathan brings $100 to his local college hockey game in order to purchase cheeseburgers and setzer. The following diagram presents his budget constraint: CANS OF SELTZER 40 34 32 24 12 4 . 12 BC 16 20 24 CHEESEBURGERS 24 32 M 40 BC

2. Shifts in a budget constraint Jonathan brings $100 to his local college hockey game in order to purchase cheeseburgers and setzer. The following diagram presents his budget constraint: CANS OF SELTZER 40 34 32 24 12 4 . 12 BC 16 20 24 CHEESEBURGERS 24 32 M 40 BC

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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2. Shifts in a budget constraint Jonathan brings $100 to his local college hockey game in order to purchase cheeseburgers and seltzer. The following diagram presents his budget constraint: CANS OF SELTZER 40 34 32 28 24 20 16 12 . 4 B 12 16 BC 24 20 CHEESEBURGERS 21 32 34 40 68 BC
Transcribed Image Text:2. Shifts in a budget constraint Jonathan brings $100 to his local college hockey game in order to purchase cheeseburgers and seltzer. The following diagram presents his budget constraint: CANS OF SELTZER 40 34 32 28 24 20 16 12 . 4 B 12 16 BC 24 20 CHEESEBURGERS 21 32 34 40 68 BC
According to the diagram, cheeseburgers cost each, and seltzer costs per can Adjust the diagram to show how Jonathan's budget constraint would change if the price of cheeseburgers increased. (Assume the price of setzer and Jonathan's income remain the same) Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap Into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther C
Transcribed Image Text:According to the diagram, cheeseburgers cost each, and seltzer costs per can Adjust the diagram to show how Jonathan's budget constraint would change if the price of cheeseburgers increased. (Assume the price of setzer and Jonathan's income remain the same) Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap Into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther C
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