Construct a budget line for having a family

Reference no: EM13110200

Indifference theory can explain all rational choices and behavior.

Try the theoryout on this situation. Suppose the only consideration for couples to have a bby or not was money. If a baby costs $8,000 a year, the price of "All other goods" is $1, and the couple has an annual income of $40,000, how would I construct a budget line for having a family?

Reference no: EM13110200

Questions Cloud

What is the genotype of for erminette chickens : The heterozygous phenotype is known as erminette. what is the genotype of for erminette chickens?

Hypothesis testing of employment : A University employment office wants to compare the time taken by graduates with 3 different majors to find their first jobs after graduation.

Find probability-average diameter of sand dollars is more : If 36 sand dollars are selected at random for collection, determine the probability that average diameter of those sand dollars is more than 3.80 centimeters. Suppose that variable is normally distributed.

Effect of performance appraisal on increases in wage : What effect does a performance appraisal have on increases in wage, benefits,etc? What purpose do they serve under a performance management system?

Construct a budget line for having a family : Indifference theory can explain all rational choices and behavior and try the theoryout on this situation. Suppose the only consideration for couples to have a bby or not was money. If a baby costs $8,000 a year.

Hypothesis testing of golf : Arnold Palmer and Tiger Woods are two of the best golfers to ever play the game. To show how these two golfers would compare if both were playing at the top of their game, the following data provide the results of 18-hole scores during the PGA tou..

What is the influence of various hox gene mutations : How do diffusion gradients of morphogens affect development?

What happens to a cell with low atp concentrations : What happens to a cell with low ATP concentrations? Give step by step process that occurs within the cell.

Performaning z test for population mean : In fiscal 1996, the U.S. Agency for International Development provided 238,300 metric tons of corn soy blend (CSB) for development programs and emergency relief in countries throughout the world.

User Account

All Pages