This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The figure above shows Sam's budget line. Which of the following would result in Sam's budget line ... (Read 110 times)

berenicecastro

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


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

C

Answer to Question 2

D


berenicecastro

  • Member
  • Posts: 581
Reply 2 on: Jun 29, 2018
Wow, this really help

bimper21

  • Member
  • Posts: 309
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

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

History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar
The digital image of a fetus shows a well-developed head and a comparatively smaller body. At 7 ... The digital image of a fetus shows a well-developed head and a comparatively smaller body. At 7 ...
Drawing shows what is occurring electrically at each part of the scope pattern. Drawing shows what is occurring electrically at each part of the scope pattern.
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
A phylogenetic tree showing the evolutionary relationships among hominoids. The evidence shows that A phylogenetic tree showing the evolutionary relationships among hominoids. The evidence shows that
Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v
Video: Component of feedback systems & Communication and regulation of body systems

For a complete list of videos, visit our video library