This topic contains a solution. Click here to go to the answer

Author Question: The figure above shows Sam's budget line. Which of the following would result in Sam's budget line ... (Read 108 times)

berenicecastro

  • Hero Member
  • *****
  • Posts: 581
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

JaynaD87

  • Sr. Member
  • ****
  • Posts: 368
Answer to Question 1

C

Answer to Question 2

D




berenicecastro

  • Member
  • Posts: 581
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

For a complete list of videos, visit our video library