What does a budget constraint represent? How do budget constraints explain the trade-offs that consumers face?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
A budget constraint is an equation representing the good...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Currently, Paula is maximizing utility by purchasing 5 TV dinners (T) and 4 Lean Cuisine meals (L) each week. a. Graph Paulas initial utility-maximizing choice. b. Suppose that the price of T rises...
-
The budget constraint facing an individual planning his or her consumption over two periods is an intertemporal one in which the present value of consumption expenditures must equal the present value...
-
Consider an economy that is composed of identical individuals who live for two periods. These individuals have preferences over consumption in periods 1 and 2 given by U = ln(C1) + ln(C2). They...
-
First United Bank Inc. is evaluating three capital investment projects by using the net present value method. Relevant data related to the projects are summarized as follows: Instructions 1. Assuming...
-
The investment club described in Exercise 4 decided to repeat their experiment in a different way. Three members of the club took responsibility for one of each of the three investment strategies,...
-
Under conditions of very high light intensity, excess absorbed solar energy is dissipated by the action of photoprotective proteins in the thylakoid membrane. Explain why it is advantageous for these...
-
An indirect way of measuring of secondary emission from ponds or large bodies of water used in waste treatment is to measure the concentration and velocity over the surface. The data can then be...
-
Norsums Department Store sells gift certificates that are redeemable in merchandise. During 2011, Norsums sold gift certificates for $88,000. Merchandise with the total price of $52,000 was redeemed...
-
1. Types of Spectra a. A cool cloud of Helium absorbs light from some nearby stars. You view only the light given off by the cloud, not any stars. Draw the plot that you expect your instruments to...
-
Soft selling occurs when a buyer is skeptical of the quality or usefulness of a product or service. For example, suppose youre trying to sell a company a new accounting system that will reduce costs...
-
How does microeconomics differ from macroeconomics? Would the supply of iPhones in the United States be studied under microeconomics or macroeconomics? What about the growth rate of total economic...
-
This chapter introduces the idea of opportunity cost. a. What is meant by opportunity cost? How are the opportunity costs of various choices compared? b. What is the opportunity cost of taking a year...
-
Commercial Crates Pty Ltd manufactures two types of crates for transporting fresh fruit and vegetables Timber and Polystyrene. The budgeted data for next year are as follows: Facility costs for the...
-
What is the role of the Federal Sentencing Guidelines in encouraging corporate ethical conduct?
-
You have two cylindrical solenoids, one inside the other, with the two cylinders concentric. The outer solenoid has length \(\ell_{\text {ourer }}=400 \mathrm{~mm}\), radius \(R_{\text {outer }}=50...
-
What factors might the Supreme Court take into account in deciding whether to grant a writ of certiorari in a case?
-
Unlike the United States, many countries require that employees be given pre-termination notices. Discuss the impact such a requirement would have if it were adopted as U.S. law.
-
Describe the major provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.
-
Describe the balanced scorecard approach.
-
Write a paper by answer the following question: Should Recycling Be Mandatory?
-
In which one of the following lists are ALL items relevant to the determination of employment income? Employee RPP contributions; signing bonus on accepting employment; use of an employer - owned...
-
what is the shortest maturity bond issued by pfizer that is outstanding?
-
Manufacturing Company Balance Sheet Partial balance sheet data for Diesel Additives Company at August 31 are as follows: Finished goods inventory $89,400 Prepaid insurance 9,000 Accounts receivable...
Study smarter with the SolutionInn App