|
Title: Suppose that the quantity of good y is measured along the vertical axis and that the quantity of ... Post by: jacksonfive09 on Mar 3, 2019 Question 1. The budget constraint shows that• as consumers spend more on one good, they spend more on others. • total income equals total spending on one good. • the consumer can have as many goods as he wants. • the consumer faces a trade-off in the consumption of goods. Question 2. Suppose that the quantity of good y is measured along the vertical axis and that the quantity of good x is measured along the horizontal axis. If the price of good x is $5 and the price of good y is $10 when income is $200 per time period, the slope of the consumer's budget constraint will be• -0.5. • -5. • -2. • -10. Title: Suppose that the quantity of good y is measured along the vertical axis and that the quantity of ... Post by: DWFG2796 on Mar 3, 2019 Content hidden
|