Draw jordans new budget constraint

Assignment Help Microeconomics
Reference no: EM131917529

Problem

Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to buy bus tickets and train tickets. The train costs $120 per trip, and the bus costs $40.

a. Graph Jordan's budget constraint.

b. How many total trips can Jordan take if she takes the train three times?

c. Suppose Jordan's travel budget is cut to $360. Draw her new budget constraint.

d. How many train trips can she take if she doesn't want to reduce the total number of trips she takes each year?

Reference no: EM131917529

Questions Cloud

Has subway crossed the exploitation line : Has Subway crossed the exploitation line in targeting its food products to obese children? What is your opinion regarding the ethics of product placements.
What specific bill have they sponsored or supported : Choose one legislator on the state or federal level who is also a nurse, and discuss the importance of their role as advocate for improving health care delivery
Write the equation for marias budget constraint : Write the equation for Maria's budget constraint. Let x 5 massages. Let y 5 manicures. Write the equation for her new budget constraint.
How the cms reimbursement rules for never events required : Discuss how the CMS reimbursement rules for never events required a shift in the patient care delivery model in inpatient facilities.
Draw jordans new budget constraint : How many total trips can Jordan take if she takes the train three times? Suppose Jordan's travel budget is cut to $360. Draw her new budget constraint.
What is your view regarding anheuser-busch use : What is your view regarding Anheuser-Busch's use in the early to mid 1990s of humorous TV commercials that portrayed animated characters.
Expectations about psychotherapy : Many people have certain beliefs or expectations about psychotherapy based on what they see in the media, what they hear from friends or acquaintances
Develop a term project paper : Your paper should include background about the organization, its products and services, markets, and RFID strategies.
Is it unethical or a case of smart marketing behavior : Several years ago during the holiday season Philip Morris Companies introduced a new cigarette brand named "M" and promoted it as "A Special Blend.

Reviews

Write a Review

Microeconomics Questions & Answers

  Alex fiani corporation produces egg cartons which are sold

alex fiani corporation produces egg cartons that are sold to egg distributors. alex fiani corporation has estimated

  Social cost-benefit analysis

Briefly describe the major categories of expected benefits and expected costs from undertaking the project and explain how and where the value of human lives saved or lost might enter this analysis, and explain whether all of these effects are addr..

  How would you revise the compensation

How would you revise the compensation so that it was just? On what basis would you change it? Does the government have a role to play? If so, in what manner?

  What price will we observe in m2 and m3

Consider three markets: M1, M2, and M3. There are features of these markets that the Department of Justice observes and features the Department of Justice does not observe. The DOJ observes that M1, M2, and M3 have one

  Determine the best response function of firm 1 as a

two firms compete in the emerging market for energy drinkscold medicine hybrids that feature caffine alcohol and cough

  What has been your experience in preparing for transition

If you are currently working in a health care organization, what has been your experience in preparing for transition to become a highly reliable organization?

  What are her accounting profits for the year

An individual leaves a college faculty, where she was earning $45,000 a year, to begin a new venture. She invests her savings of $10,000, which were earning 10 percent annually.

  A consumer is currently purchasing three pairs of jeans and

A consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of jeans is $30, and T-shirts cost $10. At the current rate of consumption, the marginal utility of jeans is 60, and the marginal utility of T-shirts

  Fundamentals of demand and supply

A. In 1996, many cows in Great Britain came down with "mad cow disease". As a result, the nations of European union banned the import of British beef.

  What happens to the indifference curves when a households

what happens to the indifference curves when a households income is reduced?questionwhat is a budget constraint? how

  Recommend the best plan using the b-c ratio method

The city of Oak Ridge is evaluating three mutually exclusive landscaping plans for refurbishing a public greenway.

  Which lead to simultaneous linear equations

The Babylonians studied problems which lead to simultaneous linear equations and some of these are preserved in clay tablets which survive. For example a tablet dating from around 300 BC contains the following problem:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd