What is a budget constraint

Assignment Help Macroeconomics

Reference no: EM13162155

What is a budget constraint? How does a budget constraint explain consumer choices when used in conjunction with indifference curves? Explain what happens if a household looses half of their income, using a budget constraint and indifference curves in your discussion.

Reference no: EM13162155

Questions Cloud

Compute the equilibrium concentrations of reactant : The equilibrium constant, Kc, for the following reaction is 1.29E-2 at 600 K: COCl2(g) CO(g) + Cl2(g) Calculate the equilibrium concentrations of reactant and products

At what temperature does the rms speed of o2 molecules : Calculate the total pressure (in atm) of a mixture of 0.0270 mol of helium, He, and 0.0200 mol of oxygen, O2, in a 4-L flask at 20°C. Assume ideal gas behavior.

Explain a sample of nitrosyl bromide decomposes : A sample of nitrosyl bromide (NOBr) decomposes according to the equation 2NOBr(g)-->2NO9g) +Br2 An equilibrium mixture in a 5.00- vessel at 100 degrees celsius contains

Is necessary to completely neutralize the excess acid : Exactly 500.00mL of 1.000M perchloric acid is used to dissolve 22.10g of the mineral malachite, Cu2CO3(OH)2 (molar mass=221.0g/mol). What volume of 1.000M sodium hydroxide, is necessary to completely neutralize the excess acid?

What is a budget constraint : What is a budget constraint? How does a budget constraint explain consumer choices when used in conjunction with indifference curves?

Explain reactions and subsequent : Find the ?H for the reaction below, given the following reactions and subsequent ?H values: Zn(s) + 1/8S8(s) + 2O2(g) ? ZnSO4(s) Zn(s) + 1/8S8(s) ? ZnS(s)

What can you infer about the atomic mass of the element : suppose new element with atomic number 120 is discovered.if some isotopes of this element have 122 nuetrons and some have 124 neutrons,what can you infer about the atomic mass of the element.

Find the number of representative particles : find the number of representative particles in each substance a)3.00 mol Sn b)0.400 mol KCI c)7.50 mol SO2 d)4.80x103 mol NaI

Find concentration of each ion present in the solution\ : Find concentration of each ion present in the solution formed by mixing: 44.0 mL of 0.150M Na2SO4 and 25.0 mL of 0.200M KCl.

User Account

All Pages