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Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman
النسخة 6الرقم المعياري الدولي: 978-1133708735Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman
النسخة 6الرقم المعياري الدولي: 978-1133708735 تمرين 7
[Uses the Indifference Curve Approach]
a. Draw a budget line for Cameron,who has a monthly income of $100. Assume that he buys steak and potatoes,and that steak costs $10 per pound and potatoes cost $2 per pound. Add an indifference curve for Cameron that is tangent to his budget line at the combination of 5 pounds of steak and 25 pounds of potatoes.
b. Draw a new budget line for Cameron,if his monthly income falls to $80. Assume that potatoes are an inferior good to Cameron. Draw a new indifference curve tangent to his new budget constraint that reflects this inferiority. What will happen to Cameron's potato consumption? What will happen to his steak consumption?
a. Draw a budget line for Cameron,who has a monthly income of $100. Assume that he buys steak and potatoes,and that steak costs $10 per pound and potatoes cost $2 per pound. Add an indifference curve for Cameron that is tangent to his budget line at the combination of 5 pounds of steak and 25 pounds of potatoes.
b. Draw a new budget line for Cameron,if his monthly income falls to $80. Assume that potatoes are an inferior good to Cameron. Draw a new indifference curve tangent to his new budget constraint that reflects this inferiority. What will happen to Cameron's potato consumption? What will happen to his steak consumption?
التوضيح
هذا السؤال ليس له إجابة موثقة من أحد الخبراء بعد، دع الذكاء الاصطناعي Copilot في كويز بلس يساعدك في إيجاد الحل.
Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman
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