What is a budget constraint? A consumer has an income of $3000. Soda costs $3 per liter and cheese costs $6 per pound. Draw the consumer's budget constriaint with soda on the vertical axis. What is the slope of the budget constraint?

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

A: An economic notion known as a budget constraint denotes the upper bound on the consumption bundles…

Q: Raymond consumes meatloaves and pineapples. He has decided that his monthly budget will be $1500.…

A: The budget constraint is the boundary of the opportunity set all possible combinations of…

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

A: On horizontal axis we have taken cheese and on vertical axis we have taken juice.  • With an income…

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

A: An economic notion known as a budget constraint denotes the upper bound on the consumption bundles…

Q: to spend 30 dollars weekly on movies and burgers movie ticket costs 6 dollar each and burger cost 3…

A: Budget constraint shows the combination of two goods that a consumer can afford within the given…

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

A: The combination of goods that a consumer can buy from his given income or wealth is known as a…

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: The graph represents a budget constraint showing the purchases of Good X and Good Y. If the price of…

A: Budget constraint refers to limitations that individual or firm faces when trying to allocate their…

Q: Draw the budget constraint for a person with income of $1,000 if the price of Pepsi is $5 and the…

A: Budget constraint depicts the combinations of two products or services which could be purchased by a…

Q: draw the budget constraint for a person with income of $ 1000 if the price of pepsi is $5 and the…

A: A budget constraint is a term used in economics to describe all of the different combinations of…

Q: Akio consumes two goods, books and sweaters. His income is $24, the price of a sweater is $4, and…

A: Budget constraint shows the different possible combination of consumption of goods and services…

Q: Use this information to answer the following 4 questions: Marie has a weekly budget of $24, which…

A: Budget constraint refers to those consumption bundle which are beyond the purchasing power of the…

Q: Hanan consumes two fruits: bananas (B) and apples (A). She has decided that her monthly budget for…

A: equation of budget constraint  B*pB + A*pA = income and intercepts are determined dividing income…

Q: Consider two goods, books and hamburgers. The slope of the consumer's budget constraint is measured…

A: Slope of budget constraint:- Slope of budget constraint  is the ratio of the prices of two goods. It…

Q: Raymond consumes meatloaves and pineapples. He has decided that his monthly budget will be $1500.…

A: Budget line refers to the graphical representation of a budget constraint. It shows the maximum…

Q: draw a budget constraint and indifference curves for pizza and pepsi .show what happens to budget…

A: A budget constraint refers to the different combinations of two commodities that can be consumed by…

Q: Hafidh's income is $200 a month. The price of watch is $25 a show, and the price of a Jeans is $15.…

A: Answer a) Given in question is Hafidh's income is $200. The price of the watch is $25 and the price…

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.…