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Essay

Economics Junk

Essay specific features

 

Issue:

Business

 

Written by:

Ester W

 

Date added:

September 27, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

7 / 1775

 

Was viewed:

5970 times

 

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Essay content:

The disposable income is equal to the cost of good X multiplied by the amount of X purchased, plus the cost of good Y multiplied by the amount of Y purchased. To find the equation of the budget line, solve for Y. $500=$10Y+$12.5X $10Y=$500-$12.5X Y=$500/$50-$12.5/$10X Y=$50-$1.25X D) The consumer would choose the point where the budget line is tangent to the highest possible utility or indifference curve...
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To find the equation of the budget line, solve for Y. $500=$10Y+$12.5X $10Y=$500-$12.5X Y=$500/$50-$12.5/$10X Y=$50-$1.25X D) The consumer would choose the point where the budget line is tangent to the highest possible utility or indifference curve. This would be the utility function II. The lines are tangent at X=20 and Y=25...
displayed 300 characters

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