Slope of the budget line, What is the slope of the budget line for apples and bananas if, Microeconomics

+44 141 628 6080
[email protected]

Slope of the budget line

Assume that a consumer has $12 in income and she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75.

What is the slope of the budget line for apples and bananas if apples were graphed on the horizontal axis and bananas were graphed on the vertical axis?

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Slope of the budget line

Reference No:- TGS064106

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Microeconomics

Q : Significance of income elasticity coefficients

What is the practical significance of income elasticity coefficients? Explain the significance using as examples an income elasticity of 3.0 for automobiles and an income elasticity of 0.20 for home-cooked meals

Q : Advantages of using capital in the production process

What are the advantages of using capital in the production process? What is meant by the term "division of labor"? What are the advantages of specialization in the use of human and material resources?

Q : Find the probability that battery was from manufacturer two

Only 75% of the batteries from manufacturer 2 last for over 40 hours. A battery in a critical tool fails at 32 hours. What is the probability it was from manufacturer 2?

Q : Accountants improve their decision-making

Discuss some procedures, policies or decision aids which could help accountants improve their decision-making.

Q : Slope of the budget line

What is the slope of the budget line for apples and bananas if apples were graphed on the horizontal axis and bananas were graphed on the vertical axis?

Q : Who were the people behind the expansion

Railroad expansion in the latter half of the nineteenth century changed everything in America. Discuss how these railroads were financed. Who were the people behind the expansion?

Q : Determining the violation of the law of demand

In 2001, Bob's Burgers charged $1.50 for a quarter-pound hamburger with all the fixin's, and sold 7,500 of them. In 2002, although Bob raised the price to $1.75, sales of quarter-pound burgers rose to 8,200. Explain why this does not represent a v

Q : Compute the equivalent units of production for each input

The ending inventory of 6,000 chairs was 100% complete as to materials and 40% complete as to labor. Bisson uses first-in, first-out (FIFO) costing.Compute the equivalent units of production for each input.

Q : Evaluate market system is profit-and-loss system

Evaluate and explain the following statements: "The market system is a profit-and-loss system." "Competition is the disciplinarian of the market system."

1954761

Questions
Asked

3,689

Active Tutors

1449220

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Slope of the budget line

Reference No:- TGS064106

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Significance of income elasticity coefficients

Q : Advantages of using capital in the production process

Q : Find the probability that battery was from manufacturer two

Q : Accountants improve their decision-making

Q : Slope of the budget line

Q : Who were the people behind the expansion

Q : Determining the violation of the law of demand

Q : Compute the equivalent units of production for each input

Q : Evaluate market system is profit-and-loss system

How children have an innate resilience

Determining whether male college students

Why consciousness is an especially important

Comment on parenthetical style

Searching for articles relating to young people

Discuss use of electronic devices like social media

What when a counselor asks a client to pretend to interview

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Slope of the budget line

Reference No:- TGS064106

Recent Questions Asked Microeconomics

Q : Significance of income elasticity coefficients

Q : Advantages of using capital in the production process

Q : Find the probability that battery was from manufacturer two

Q : Accountants improve their decision-making

Q : Slope of the budget line

Q : Who were the people behind the expansion

Q : Determining the violation of the law of demand

Q : Compute the equivalent units of production for each input

Q : Evaluate market system is profit-and-loss system

Asked Questions