uppose that Ahmed's income OR 2800, and he has to purchase two goods X and Y. The price of good X (Px) is OR 20, and the price of good Y (Py) is OR 40. Draw Ahmed's budget line and find the slope.

Q: draw a consumer’s indifference curves for coke and cheese. pick a point on an indifference curve for…

A:

Q: Jo buys muffins and cupcakes at a bakery. Jo’s weekly budget for baked goods is $70. The price of…

A: The budget equation measures the amount of two goods that a consumer can purchase given the prices…

Q: Suppose you are consuming two goods, A and B. Your marginal utility from good A is 40 while your…

A: "Since you have posted multiple questions, I can only answer the first question, rest you need to…

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: Quantity of D 10+ 8 6 4 2 02 4 6 8 10 Quantity of C Refer to the budget line shown in the diagram.…

A: The budget constraint represents all the combinations of the goods and services that the consumer…

Q: Suppose Matt’s income is $120. He plans to spend it on two goods bread and avacado. Prices are:   Pb…

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Q: The graph shows the budget line for a consumer who only buys cookies and magazines. If the…

A: Budget line is the graphical representation of different combinations of two 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: 2. Linus has the utility function U (x; y) = 2x2+y. The price of both goods is 1 euro and income are…

A: The utility function is quasilinear in x. Good x is a necessity. U(x; y)=2x+yPrice of both goods is…

Q: ос

A: Utility maximizing condition at given budget constraints Slope of Budget line= Slope of indifference…

Q: a. What is your marginal rate of substitution of $1 bills for $5 bills? b. Produce an indifference…

A: (a) b) Note that this MRS of $1 bills to $5 bills is constant, i.e, the slope of the required…

Q: True or False?

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

Q: A consumer's budget set for two goods (X and Y) is 600 z 3X+6Y. a. The budget set is illustrated…

A: Budget line shows different combinations of two goods that can be bought with the given income.

Q: Draw the indifference curves that you think illustrate the preferences described in the following…

A: Indifference curve (IC) is that curve which shows a different combination of items providing an…

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A: Consumers aim to maximize their utility(U). Consumers have preferences among different bundles of…

Q: The income of a consumer is $40, the price of A is $5, and the price of B is $2. If the quantity of…

A: We are going to find the slope of budget equation to answer this question. Slope of the budget line…

Q: A consumer’s budget set for two goods (X and Y) is 600 ≥ 3X + 6Y.                a. Illustrate the…

A: A budget set is a collection of all conceivable combinations of two items that a consumer may…

Q: Graphically draw and explain the income effect curve: 1.Annie consumes two goods: sandwiches and…

A: Budget line shows the different possible combination of goods and services that can be purchased…

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Q: EXERCISE 3 If Joe decides to allocate his entire weekly allowance between energy drinks and coffee,…

A: The budget line is a graphical delineation of all potential blends of the two commodities that can…

Q: Suppose you have an income of $24 and the only two goods   you consume are apples (x1) and peaches…

A: Suppose We have an income of $24 and the only two goods that we consume are apples (x1) and peaches…

Q: Marie has a weekly budget of $2400, which she likes to spend on magazines and pies. If the price of…

A: Income=$2400 Price of Magazine= $40 Price of pie= $120

Q: Bobby, the brain, Heenan has income of $100. He consumes food (F) and clothes (C). His utility…

A: Given,

Q: Jo buys muffins and cupcakes at a bakery. Jo’s weekly budget for baked goods is $70. The price of…

A: Budget constraints shows the relationship between the goods , price of goods and income of consumer.…