Task 10The consumer's income is 90$. The price of good A is 3$, price of good B- 1$. In the tablethere are 3 sets of indifference of goods A and B.VariantsSet 1Set 2Set 3Indifference curve U1Good AIndifference curve U2Good AIndifference curve U3Good AGood BGood BGood B1402060257535225304333504215453045405041260236035601075208030801. To build a consumer budget line. To determine the budget line slope.2. To build the indifference curve. To determine the Marginal Rate of Substitution ofeach indifference curve.3. To find the consumer's equilibrium point. What is the marginal rate of substitutionat this point?4. To determine the consumer's equilibrium if the price of good A reduced to 1,5$.5. To plot the curve of demand for good A at the changing its price.

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To build a consumer budget line. 2. To build the indifference curve. To determine the Marginal Rate of Substitution of ach indifference curve. 3. To find the consumer's equilibrium point. What is the marginal rate of substitution at this point? 4. To determine the consumer's equilibrium if the price of good A reduced to 1,5$. 5. To plot the curve of demand for good A at the changing its price. determi the budget line slope.

To build a consumer budget line. 2. To build the indifference curve. To determine the Marginal Rate of Substitution of ach indifference curve. 3. To find the consumer's equilibrium point. What is the marginal rate of substitution at this point? 4. To determine the consumer's equilibrium if the price of good A reduced to 1,5$. 5. To plot the curve of demand for good A at the changing its price. determi the budget line slope.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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