Refer to the information provided in Figure 3.11 below to answer ...

[lidoalex]

Question 1

Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.










Refer to Figure 6.2. Assume Mr. Lingleʹs budget is 
AC. At which point does Mr. Lingle spend exactly his income?

◦ A.
◦ B.
◦ C.
◦ All of these are correct.

Question 2

Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.










Refer to Figure 6.2. Mr. Lingleʹs budget constraint is 
AC. Point 
D is

◦ an available option and Mr. Lingle exactly spends all of his income.
◦ an available option and Mr. Lingle does not spend all of his income.
◦ in Mr. Lingle's opportunity set but is not on his budget constraint.
◦ not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot purchase with his current income.

[bassamabas]

Answer 1

All of these are correct.

Answer 2

not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot purchase with his current income.

[lidoalex]

Thank you!

[bassamabas]

Always glad to help...

[fox]

Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.










Refer to Figure 6.2. Mr. Lingleʹs budget constraint is 
AC. Point 
A is

◦ an available option and Mr. Lingle exactly spends all of his income.
◦ an available option and Mr. Lingle does not spend all of his income.
◦ not in Mr. Lingle's opportunity set but is on his budget constraint.
◦ not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot purchase with his current income.

[FergA]

an available option and Mr. Lingle exactly spends all of his income.