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 107 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
Great answer, keep it coming :)


ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
Gracias!

 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

For a complete list of videos, visit our video library