Author Question: Refer to the information provided in Figure 6.5 below to answer the question(s) that follow. Refer ... (Read 14 times)

plus1 · **on:** Apr 19, 2019

Question 1

Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.

Refer to Figure 6.5. Molly's budget constraint is
EF. If her income decreases and the price of CDs increases, her new budget constraint could be

◦ CD.
◦ BD.
◦ AD.
◦ Both
BD and
AD are correct.

Question 2

Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.

Refer to Figure 6.5. Molly's budget constraint is
BD. Molly's income is $400, the price of a DVD is $15 and the price of a CD is $20. At point
B the consumer is buying ________ DVDs and ________ CDs.

◦ 0; 20
◦ 20; 0
◦ 20; 15
◦ 40; 30

hugthug12 · **Reply #1 on:** Apr 19, 2019

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