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Author Question: The figure above shows Sam's budget line. Which of the following would result in Sam's budget line ... (Read 118 times)

berenicecastro

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on: Jun 29, 2018
The figure above shows Sam's budget line. Which of the following would result in Sam's budget line shifting leftward and not changing its slope?
 
  A) a decline in his preferences for both gasoline and coffee
  B) an equal percentage reduction in the prices of both a gallon of gasoline and a pound of coffee
  C) a decrease in Sam's income
  D) a fall in the ratio of the price of a gallon of gasoline to the price of a pound of coffee

Question 2

You took a job as a salesperson in an insurance company with the knowledge that you have 0.5 chance of making 2,000 a month or 3,000 a month. How much will you make each month?
 
  A) definitely 2,500
  B) definitely 2,000
  C) definitely 3,000
  D) either 2,000 or 3,000


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JaynaD87

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


berenicecastro

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

patma1981

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Reply 3 on: Yesterday
Wow, this really help

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