Case (D Q(A): Suppose the price of X is $15 and the price of Y is $20 and an Income is $600. A. Sketch () the household budget constraint. (X on Horizontal and Y on Vertical axis) B. Find the Slope of the budget constraint. C. Suppose the household income decreased to $450. Sketch the new budget constraint. D. Suppose the Price of X increases to $20. Sketch the new budget constraint. (I =$600). Q(B): Assume that Jamal has $28 to spend on food and transportations each month. food cost $4 each meal, and transportation costs $2 each. Jamal's preferences for food and transportations are summarizedby the following information: QTu Mus Mu/P, Q, Tu Mu, Mu, /P, 00 1 24 2 3 62 4 78 5 90 6 96 7 - 00 1 10 - 20 2 8 31 3 25 7 4 5 5 6 40 4 7 43 A. complete the table above. B. Based on the data in the table, how many meals and trips should Jamal purchase, and what is her total utility from the purchase? Explain.

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter6: Exponential Functions And Sequences
Section: Chapter Questions
Problem 6CA
Question
not use ai please
Case (D
Q(A): Suppose the price of X is $15 and the price of Y is $20 and an Income is $600.
A. Sketch () the household budget constraint. (X on Horizontal and Y on Vertical axis)
B. Find the Slope of the budget constraint.
C. Suppose the household income decreased to $450. Sketch the new budget constraint.
D. Suppose the Price of X increases to $20. Sketch the new budget constraint. (I =$600).
Q(B): Assume that Jamal has $28 to spend on food and transportations each month. food
cost $4 each meal, and transportation costs $2 each. Jamal's preferences for food and
transportations are summarizedby the following information:
QTu Mus Mu/P, Q, Tu Mu, Mu, /P,
00
1 24
2
3 62
4 78
5
90
6 96
7
-
00
1 10
-
20
2
8
31
3 25 7
4
5
5
6 40
4
7 43
A. complete the table above.
B. Based on the data in the table, how many meals and trips should Jamal purchase,
and what is her total utility from the purchase? Explain.
Transcribed Image Text:Case (D Q(A): Suppose the price of X is $15 and the price of Y is $20 and an Income is $600. A. Sketch () the household budget constraint. (X on Horizontal and Y on Vertical axis) B. Find the Slope of the budget constraint. C. Suppose the household income decreased to $450. Sketch the new budget constraint. D. Suppose the Price of X increases to $20. Sketch the new budget constraint. (I =$600). Q(B): Assume that Jamal has $28 to spend on food and transportations each month. food cost $4 each meal, and transportation costs $2 each. Jamal's preferences for food and transportations are summarizedby the following information: QTu Mus Mu/P, Q, Tu Mu, Mu, /P, 00 1 24 2 3 62 4 78 5 90 6 96 7 - 00 1 10 - 20 2 8 31 3 25 7 4 5 5 6 40 4 7 43 A. complete the table above. B. Based on the data in the table, how many meals and trips should Jamal purchase, and what is her total utility from the purchase? Explain.
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