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Herbert spends all $50 of hes paycheck on food and shelter

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Herbert spends all $50 of hes paycheck on food and shelter which each cost $5 per unit what is the equation of hes budjet line ? Sketh the budjet line and two possiable indifference curves.that herbert might have. One indifference curve should show Herbert spending his entire budget but consuming too much shelter. Label that point A. The other indiffernece curve should show Herbert optimizing his utililty. Label optimal point B. What is herberts marginal rate of substituion between food and shelter when he is consuming his utililty market basket-

Reference no: EM13308942

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