Provided to plot the budget constraint curve

Assignment Help Microeconomics
Reference no: EM133583516

Case Study: A telephone company offers an optional package for local calls whereby each month the subscriber gets the first 50 min of local calls free, the next 100 min at €0.25/min, and any additional time at the normal rate of €0.50/min. Draw the budget constraint for local phone calls and the composite good for a subscriber with an income of €100/mo.

Questions:

1. Use the line tool provided to plot the Budget Constraint curve.

2. To earn full credit for this graph you must plot all required points for each curve.

 

 

 

Reference no: EM133583516

Questions Cloud

Developing job description to selecting the employee : Create a flowchart to show the steps involved in hiring a new teacher, from developing a job description to selecting the employee.
Identify different groups whose civil rights are suffering : Identify two different groups whose civil rights are suffering current infringement but may not be receiving public attention.
Discuss significance of this managerial point to your role : Discuss the significance of this managerial point to your role, and Explain why this issue should be a priority for the Marshall Medical Center.
Why is play so important to the development of children : Why is play so important to the development of children? Give some examples of the benefits of play, supported by references to your texts.
Provided to plot the budget constraint curve : Use the line tool (Budget Constraint) provided to plot the Budget Constraint curve. To earn full credit for this graph you must plot all required points for
What general ethical principles : What general ethical principles are relevant to the decision making process in this situation?
How would you conduct basic value stream analysis : Describe how would you conduct a basic value stream analysis. Describe what are the best practices for creating a VSM.
How can normal profit apply to my personal and professional : how can normal profit apply to my personal and professional life?
How can normal profit have practical applications : How can normal profit have practical applications to my personal and professional life?

Reviews

Write a Review

Microeconomics Questions & Answers

  Discuss the disadvantages of international trade

International trade has been a great boon for many countries and, in general, has been more beneficial for the world than not.

  Calculate the certainty equivalent xce of the gamble

Suppose the function u(x) = x^0.5 where x is consumption represents your preference over gambles using an expected utility function.You have a probability δ of getting consumption xB (bad state) and a probability 1-δ of getting xG (good state).(a) Ca..

  Do you expect to see plaintiffs attorneys operating

In the United Kingdom and several other countries, the loser of the case pays the winner's legal fees. Do you expect to see plaintiffs' attorneys operating.

  Presume that banks desire to hold no excess reserves

Presume that banks desire to hold no excess reserves, the reserve requirement is 5%  and a bank receives a new deposit of $1,000.

  Determine a quarterly rate of return

At the end of one year, the student group resold the machine for $50. Determine the quarterly cash flow. Then determine a quarterly rate of return

  Quantity theory of money and the natural rate hypothesis

What is one long-run implication for monetary policy shared by both Quantity Theory of Money and the Natural Rate Hypothesis? When we are in a liquidity trap, monetary policy is weak and fiscal policy is powerful." True or False ? Why?

  Explanations of each manipulation and each algebra

Enthusiastic attitude about any queries I am having. 5. Work in the long run if this one works out well

  What is the present worth of maintenance costs

What is the present worth (at 7%) of maintenance costs that start at $3500 per year and then climb by $825 per year over a 10-year life

  List at least six opportunities you saw in the company

In the External Factors column, list at least six opportunities you saw in the company you researched. Underneath the opportunities, list at least six threats you saw in the company you researched.

  Discussion the strengths and weaknesses of the study

This Discussion topic is based on a case study. Include in your discussion the strengths and weaknesses of the study and implications for nursing practice.

  Characteristics of a perfect competitive market

What are some of the characteristics of a perfect competitive market?

  Type your question here on the basis of trends in bank

type your question here on the basis of trends in bank branches does the public appear to have more or less access to

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