Suppose Sam has a weekly budget of $48 to spend on juice and yogurt. Juice is priced at $4 per gallon, and yogurt is priced at $2 per container.gallons of juice. If he spends his entire $48 on yogurt, he can buycontainers ofIf Sam spends his entire $48 on juice, he can buyyogurt.Use the blue line (circle symbol) to plot Sam's budget constraint on the following graph. Next, use the orange point (square symbol) to shade the areathat represents combinations of juice and yogurt that are affordable for Sam. Finally, place the black point (plus symbol) on the point on Sam's budgetconstraint that corresponds to a scenario in which Sam spends $24 on each good.Note: Dashed drop lines will automatically extend to both axes.?3633302724211812963YOGURT (Containers)00+3691215 18 21JUICE (Gallons)24273033 36BC, ($48)0Affordable Region$24 on EachBC₂ ($60) What does the slope of Sam's budget constraint represent?The opportunity cost of an additional gallon of juice in terms of containers of yogurtThe cost of an additional container of yogurt in terms of dollarsThe cost of an additional gallon of juice in terms of dollarsThe opportunity cost of an additional container of yogurt in terms of gallons of juiceSuppose Sam receives $12 from his grandmother and decides to dedicate this money to buying more juice and yogurt.Using the green line (triangle symbol), draw Sam's new budget constraint on the preceding graph.True or False: Sam faces the same tradeoff between juice and yogurt.TrueFalse

Given Weekly budget of Sam = $48 Price of juice =$4 per gallon yogurt price = $2 per container

Suppose Sam has a weekly budget of $48 to spend on juice and yogurt. Juice is priced at $4 per gallon, and yogurt is priced at $2 per container. gallons of juice. If he spends his entire $48 on yogurt, he can buy containers of If Sam spends his entire $48 on juice, he can buy yogurt. Use the blue line (circle symbol) to plot Sam's budget constraint on the following graph. Next, use the orange point (square symbol) to shade the area that represents combinations of juice and yogurt that are affordable for Sam. Finally, place the black point (plus symbol) on the point on Sam's budget constraint that corresponds to a scenario in which Sam spends $24 on each good. Note: Dashed drop lines will automatically extend to both axes. 36 33 30 BC, ($48) 27 0 24 Affordable Region 21 18 15 $24 on Each 12 9 6 BC, ($60) YOGURT (Containers) 3 0 0 + 3 6 9 12 15 18 21 JUICE (Gallons) 24 27 30 33 36

Suppose Sam has a weekly budget of $48 to spend on juice and yogurt. Juice is priced at $4 per gallon, and yogurt is priced at $2 per container. gallons of juice. If he spends his entire $48 on yogurt, he can buy containers of If Sam spends his entire $48 on juice, he can buy yogurt. Use the blue line (circle symbol) to plot Sam's budget constraint on the following graph. Next, use the orange point (square symbol) to shade the area that represents combinations of juice and yogurt that are affordable for Sam. Finally, place the black point (plus symbol) on the point on Sam's budget constraint that corresponds to a scenario in which Sam spends $24 on each good. Note: Dashed drop lines will automatically extend to both axes. 36 33 30 BC, ($48) 27 0 24 Affordable Region 21 18 15 $24 on Each 12 9 6 BC, ($60) YOGURT (Containers) 3 0 0 + 3 6 9 12 15 18 21 JUICE (Gallons) 24 27 30 33 36

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section21.1: The Budget Constraint: What The Consumer Can Afford

Problem 1QQ

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Why does a change in income cause a parallel shift in the budget constraint?
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Don't forget the graph please
Typed plz and Asap thanks
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