× Didn't find what you were looking for? Ask a question
  
  
Top Posters
Since Sunday
12
s
6
j
5
5
s
5
m
5
b
4
p
4
m
4
M
4
i
4
P
4
New Topic  
s.h_math s.h_math
wrote...
Posts: 174
Rep: 2 0
A month ago
Could you help me with this particular question?

Dale likes to consume both sweatshirts and jackets. The price of a
sweatshirt is $20, while the price of a jacket is $60.
If Dale's marginal benefit of another sweatshirt is $60, what must be the
marginal benefit of another jacket? Assume Dale is optimizing by using
the "equal bang for your buck" rule.
The marginal benefit of another jacket must be $ 180 . (Enter your
answer as a whole number.)
Draw Dale's budget set, assuming he has $120 to spend. Show the shift
in this budget set when the price of jackets decreases to $30.
1 .) Using the line drawing tool, draw Dale's budget constraint at the
original prices of $20 for a sweatshirt and $60 for a jacket. Label the line
'BCI '
2.) Using the line drawing tool, draw the new budget constraint after the
price of jackets decreases to $30. Label the line 'BC2
Carefully follow the instructions above and only draw the required
objects.
Attached file
Thumbnail(s):
You must login or register to gain access to this attachment.
Read 110 times
13 Replies

Related Topics

Replies
wrote...
Educator
A month ago
Hi s.h_math

I found a similar question with slightly different numbers that can help you answer yours.

Let me know what you think, and if it were helpful
Attached file
You must login or register to gain access to this attachment.
s.h_math Author
wrote...
A month ago
Uhm, I'm not sure how you get 6 jackets and 18 sweatshirts in total?
wrote...
Educator
A month ago
Show the shift in this budget set when the price of jackets decreases

You take your budget, 180, divide by the price of each item.

So for jackets it's 120 / 60 = 2, and for sweatshirts its 120 / 20 = 6.

Does that help?
s.h_math Author
wrote...
A month ago
Yes, that definitely helps, would you believe my graph is correct? Please let me know, thanks a lot!
Attached file
Thumbnail(s):
You must login or register to gain access to this attachment.
wrote...
Educator
A month ago
Looks similar to the one in the example I provided. What are those black lines?
s.h_math Author
wrote...
A month ago Edited: A month ago, s.h_math
The black line is just the pointer to label the graph line sir.
Post Merge: A month ago

The black line is just the pointer to label the graph line sir.
wrote...
Educator
A month ago
I haven't verified if it's 100 percent right, but it does look similar to the style of the other question.
s.h_math Author
wrote...
A month ago
Do you know when you would be able to verify it 100%?
wrote...
Educator
A month ago
So after the jacket decreases by 30, now the jacket is worth 30 dollars a piece. 180 divided by 30 is 6.

That is reflected in your graph.
s.h_math Author
wrote...
A month ago
It said this
Attached file
Thumbnail(s):
You must login or register to gain access to this attachment.
wrote...
Educator
A month ago
Hmmm. I'm not certain to be honest 😥 What can you make of that?
s.h_math Author
wrote...
A month ago Edited: A month ago, s.h_math
Would you mind checking if this would work better?
Post Merge: A month ago

i'm on my last try Frowning Face
Attached file
Thumbnail(s):
You must login or register to gain access to this attachment.
wrote...
Educator
A month ago
It looks right to me, but I was wrong the last time. I wish I could be more certain
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  304 People Browsing
 448 Signed Up Today
Related Images
  
 209
  
 440
  
 8
Your Opinion
Who's your favorite biologist?
Votes: 248

Previous poll results: How often do you eat-out per week?