Based on the diagram below, a. What is Bart's income? b. What is the price of Good B at point K? c. What is the price of Good B at point L? d. When in equilibrium point K, how much will she spend on Good B? e. When in equilibrium point L, how much will she spent on Good B

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Based on the diagram below, a. What is Bart's income? b. What is the price of Good B at point K? c. What is the price of Good B at point L? d. When in equilibrium point K, how much will she spend on Good B? e. When in equilibrium point L, how much will she spent on Good B?
1200
-IC2
IC
30 50
Good B
100
Spending on
other goods ($)
Transcribed Image Text:1200 -IC2 IC 30 50 Good B 100 Spending on other goods ($)
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