Now suppose Henry has $900 to spend rather than $450. How will this change affect Henry's budget line? Group of answer choices A.It shifts outward in a parallel fashion. B.It pivots, moving leftward along the horizontal axis and outward along the vertical axis. C.It shifts inward in a parallel fashion D.It does not move.

Q: alex has a budget of $100 a month for a movie tickets and restaurant meals. A movie ticket will cost…

A: Income per month(M) = $100 Two goods: Movie ticket(M) & Restaurant meal(R) Price of Movie ticket…

Q: given goods A and B and a budget, if the relative price of A were to increase, the budget line…

A:

Q: Now suppose Henry has $900 to spend rather than $450. How will this change affect Henry's budget…

A: Because budget increased,budget line will shift rightwards or outwards in a parallel fashion.

Q: Question 4 A consumer has income of $15,000. Pillows costs $35 per pillow, and soda costs $70 per…

A: Income = $15,000 Price of Mask = $35 Price of sanitizer = $70

Q: 1. X1 and x2. The price of x, is $80 per unit and the price of x2 is $40 per unit; x1 and x2 are…

A: Disclaimer :- As you posted multipart questions we are supposed to solve the first 3 questions only…

Q: Suppose that the quantity of tacos consumed per month is on the x-axis and the quantity of pizzas…

A: A budget line is a graphical representation of the constraints that a consumer faces when making…

Q: 40- Budget line A 30- 20- 10- Budget line B 80 Food, F (units per week) 20 40 60 Clothing, C (units…

A: Theodore has an initiative budget constraint as A and  it is now changed to the new budget…

Q: Y) för 1 пее (g0 a. Write out Jim's utility function. b. Jim's budget constraint is 100 = 4x + 9y.…

A: (A) U = min(2X, Y) If Y is 2, X should be 1,thus U remains constant and U is utility.

Q: Consumer Theory Daniel spends all his money on only two goods: chocolates (good 1) and milkshakes…

A: Individual preferences can be characterised utilizing indifference curves when certain requirements…

Q: Consider a graph with paper on the x-axis and pencils on the y-axis.  If the price of pencils…

A: Budget constraint shows the relationship between the two goods, their prices and the income of the…

Q: Write out the standard form of a budget constraint (meaning only with variables, no numbers). Then,…

A: The budget constraints represent all possible combinations of consumer goods that a consumer can buy…

Q: Marissa has $30 to spend on beer and hamburgers. Beers are $3/beer and hamburgers are $5/hamburger.…

A: Budget constraint: - it is a graphical representation of different bundles of goods that a consumer…

Q: A consumer has income of $3,000. Wine costs $3 per glass, and cheese costs $6 per pound. Make a…

A: Budget constraint is the boundary of the opportunity set-all plausible combinations of goods a…

Q: Use the Budget Line and Indifference Curve concepts to illustrate how a consumer can obtain the…

A: The curve that depicts various combinations of goods and services which could provide different…

Q: If a consumer's income decreases, what will happen to the budget line? It will shift outward. It…

A: A budget line, also known as a budget constraint or consumption possibility frontier, is a graphical…

Q: Sarah has an income of $100. She spends all of her income on pizza and burritos. A pizza costs $10…

A: Budget constraint represents the total budget or the total income that is available for the…

Q: Xavier has preferences between food eaten today and food eaten tomorrow of the form. U(today,…

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Q: Question 3 (Budget Constraint). Vince consumes gas (x1) and food (x2). Suppose the price of gas is…

A: Dear student, you have asked multiple sub-part questions in a single post. In such a case, I will be…

Q: If the price of the good on the vertical axis rises

A: Budget line shift because of change in the level of consumer income. And it become steeper or…

Q: Linda loves buying shoes and going out to dance. It costs Linda $50 to buy a new pair of shoes or to…

A: The budget line is the graphical representation of all the possible combinations of two different…

Q: True or False?

A: The first statement is False. A decrease in income does not pivot the budget line around the bundle…

Q: Ralph usually buys one Pizza and 2 colas from the local pizzeria. The pizzeria announces a special:…

A: The budget constraint is the locus of all affordable consumption bundles at the given income of the…

Q: Write down the equation for the budget constraint and then graph it for .. Px = $100 Py = $25…

A: Budget Constraint is an equation that depicts the limitations of the consumers. With the given…

Q: Economists assume that the objective of consumers is to maximize their _____   Question 37 options:…

A: Utility- It is the total satisfaction that is received from the consumption of a good or service.

Q: Last week Sara’s income was $12 a week. The price of popcorn was $3 a bag, and the price of a…

A: A budget line, also known as a budget constraint, is a graphical representation of the various…

Q: Draw YOUR indifference curve for the consumption of two goods (you pick the goods – be creative!)…

A: A consumer is a rational person who wants to gain the maximum satisfaction level from paying the…