Does it fall to the left or right of the budget line

Reference no: EM131240677

Continuing with the same example, suppose that Joel takes his $12 to the flower shop and discovers that someone else just bought almost all the roses and daisies in the shop. Only 4 roses and 2 daisies remain in the shop, so that's all Joel can buy.

a. Show this consumption combination on the graph. Does it fall to the left or right of the budget line?

b. The next day, Joel goes back to the store with his $12 and this time there are plenty of roses and daisies available for purchase. However, the price of roses has increased to $2. Show the budget line before the price change, and then the resulting change in Joel's budget line.

Reference no: EM131240677

Questions Cloud

Are the fictional incidents realistic and plausible : Make necessary adjustments to your document so that each segment flows smoothly into the next. Evaluate your project using the criteria given below. Are the indicators and their measurements appropriate to the high-risk area? Do the indicators capt..

Draw jenny''s budget line, with beans on the vertical axis : The price of both beans and corn decreases by 50%, to $5 and $10 respectively. Draw the change in Jenny's budget line on the graph in part (a).

Original volume at a constant temperature : If 250 moles of gas are compressed to 0.75 of an original volume at a constant temperature or 295 K, how much heat must have gone into the environment?

What was the conflict : Reflect on a situation in which you had a conflict with someone because of your race, your age, your gender, your generation, your personal appearance, your religion, etc. What was the conflict? Was it resolved in a positive manner?

Does it fall to the left or right of the budget line : Show this consumption combination on the graph. Does it fall to the left or right of the budget line?

What happens to the acceleration : A student is doing the lab force, mass and acceleration. The student places 50g on the cart and 50g on the hanger, then measures the acceleration. The student then moves 10g from the cart to the hanger. What happens to the acceleration?

What part of the job description was the most inconsistent : Briefly describe a time when you received a job description and felt that it didn't match your daily responsibilities. What part of the job description was the most inconsistent? Give specific example/s. What would you have suggested to your super..

Draw joel''s budget line putting daisies on the vertical axis : Continuing the example from above, now suppose that Joel's income increases from $10 to $12. Sketch the budget line from problem #1 and then show the change to the new budget line.

Results of the photoelectric effect experiment : Discuss how the results of the photoelectric effect experiment would differ if light behaved purely as a wave.

User Account

All Pages