Construct a budget line for having a family

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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

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