University:
University of Toronto
Course:
ECO200 | Microeconomic Theory
Academic year:

2023
Views:

215

Pages:

5
Author:

Arlene R.

17) A consumer spends 24 dollars & pays P&P12. The consumer also faces a constraint that she can only consume a total quantity of 6 units: 76. Illustrate her feasible set. 18) A consumer spends 24 dollars & pay's PRG & P₁:2. Next month a government program will provide an in-kind transfer of 24 units of Grood 2. How is the budget line affected? 19) A consumer buys 1000 units of x & 500 units of y when prices are Px 2 & P₁ =4. Graph this budget line. Next month P4 & 4 but a government agency will increase her income so the original bundle (10000, 50) is affordable at the new prices. Graph this budget line. 20) A consumer has an income of m=600 pays P4 2. She pays Px: 4 for the first 10 units. She recieves a discount to P1 for any purchases greater than 10. Show budget line 21) Enca faces a linear constrant. She has enough time to read 3 pg of econ & 4 pg of sac. Alternatively, she has enough time to read I pay of economics & 8 pages of sociology. The joc exam is tomonon! If Erica decides to ignore reading econ altogether, how many pages of soc could she read? Put tipy of econ on the h-axis & topy of soc on the v-axis. 1) In tear 1, P4, P₁ =1 and m² 70. In year 2. P9, P42 and m² 70. on a graph with it on h-axs & on the vaxts, the new BL ISTU 1) In tear 1, P4, P₁ =1 and m² 70. In year 2. P9, P42 and m² 70. on a graph with it on h-axs & on the vaxts, the new BL ISTU 15) Illustrate & quantify the Slutsky SE & IE for a maximizing consumer il linear preferences usxy & an income of GP44, P6, Px3

Tutorial Question. Practice Problems #1

Related Documents

Recommended Documents

Details

Description

Related Documents

Struggling with your assignment and deadlines?

Free up your schedule!

Take 5 seconds to unlock