1 answer

Utility Maximizing Consumption Exercise 3 The graph below depicts a set of indifference curves and budget...

Question:

Utility Maximizing Consumption Exercise 3 The graph below depicts a set of indifference curves and budget line for Samuel. UsInstructions: Enter your answers as a whole number. a. Which of the following bundles are affordable? Bundle W (Click to seleSamuels Entertalnment Preferences Concerts U3 2 4 6 BU 8 10 12 14 16 18 20 22 Dining Out c. Which of the following bundles arc. Which of the following bundles are affordable under B2? Bundle Z: (Click to select) 9 Bundle R: (Click to select) 9 Bundle

Utility Maximizing Consumption Exercise 3 The graph below depicts a set of indifference curves and budget line for Samuel. Use the graph to answer the questions that follow. Samuel's Entertainment Preferences w Concerts BU 8 10 12 14 16 18 20 22 0 2 4 6 Dining Out
Instructions: Enter your answers as a whole number. a. Which of the following bundles are affordable? Bundle W (Click to select) Affordable Not affordable Bundle T: Bundle S: Affordable Bundle Y: (Click to select) 9 Bundle V: (Click to select) b. What is the optimal bundle for Samuel? O times dining out and concerts Suppose Samuel experiences an increase in his entertainment budget. Assume B2 depicts his new budget line. Samuel's Entertainment Preferences .W Concerts
Samuels Entertalnment Preferences Concerts U3 2 4 6 BU 8 10 12 14 16 18 20 22 Dining Out c. Which of the following bundles are affordable under B2? Bundle Z: (Click to select) Bundle R: (Click to select)
c. Which of the following bundles are affordable under B2? Bundle Z: (Click to select) 9 Bundle R: (Click to select) 9 Bundle W: (Click to select) Bundle Y: (Click to select) 9 Bundle V: (Click to select) 9 d. Based on Samuel's new entertainment budget, what is the optimal bundle for Samuel? D times dining out and concerts

Answers

@ Which of the following Bundles are affaidahle? Bundle W: NOT affordable Bundle T : NOT affordable : Bundle 5: AFFORDA BLE B

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