Hübert brings $40 to a football game to spend on hot dogs and beer. The following diagram shows his budget constraint: 20 18 16 BC 14 2 BC 2 4 6 8 10 12 14 16 18 20 HOT DOGS According to the diagram, hot dogs cost $ each, and beer costs $ per glass. Adjust the diagram to show how Hubert's budget constraint would change if he had brought less money to the stadium. (Assume the prices of hot dogs and beer remain the same.) Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original norition juct du GLASSES OF BEER

Hübert brings $40 to a football game to spend on hot dogs and beer. The following diagram shows his budget constraint: 20 18 16 BC 14 2 BC 2 4 6 8 10 12 14 16 18 20 HOT DOGS According to the diagram, hot dogs cost $ each, and beer costs $ per glass. Adjust the diagram to show how Hubert's budget constraint would change if he had brought less money to the stadium. (Assume the prices of hot dogs and beer remain the same.) Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original norition juct du GLASSES OF BEER

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 12RQ: Why does a change in income cause a parallel shift in the budget constraint?

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Nick brings $25 to a baseball game to spend on hot dogs and beer. The following diagram shows his budget constraint: 10 9. ВС 8. 7 BC 1 2 3 4 5 6 7 8 9 10 HOT DOGS According to the diagram, hot dogs cost $ each, and beer costs $ per glass. Adjust the diagram to show how Nick's budget constraint would change if he had brought more money to the ballpark. (Assume the prices of hot dogs and beer remain the same.) Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will 9, 4. 2. GLASSES OF BEER
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5. Suppose that by some miracle the number of hours in the day increased from 24 to 30 hours (with luck this would happen shortly before exam week). How would this affect the budget constraint?
Can you please assist? Raymond consumes meatloaves and pineapples. He has decided that his monthly budget will be $1500. Suppose that one meatloaf costs $375, while one pineapple costs $150. a. What is the expression for Raymond’s budget constraint? b. Draw a graph of Raymond’s budget line (meatloaf on the y axis).
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Raymond consumes meatloaves and pineapples. He has decided that hismonthly budget will be $1500. Suppose that one meatloaf costs $375, while onepineapple costs $150.i. What is the expression for Raymond’s budget constraint? ii. Draw a graph of Raymond’s budget line (meatloaf on the y axis).
Monica likes to spend 30 dollars weekly on movies and burgers movie ticket costs 6 dollar each and burger cost 3 dollar each? 1. What is the maximum number of burgers she can have in a week given her budget of 30 dollar? 2. Draw monica s budget constraint line using the horizontal axis to represent the quantity of movie tickets and the vertical axis to represent the quantity of burgers. Be sure to compute and show the x and y intercepts. What is the slope of the budget constraint line you have drawn?
Answer the question based on the following graph. Which of the following statements is entirely correct? Tom's monthly budget constraint 40 •D E nts 20 Number of hamburgers per month O Point E is unattainable and Point D is inefficient. O Both point D and E are unattainable. O Point E is inefficient and Point D is unattainable. O Point A is inefficient and Point E is unattainable. « Previous Next Number of hot dogs per month