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Author Question: The figure above shows Ronald's budget line. He has a weekly income of 20, which he spends on ... (Read 37 times)

swpotter12

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on: Jun 29, 2018
The figure above shows Ronald's budget line. He has a weekly income of 20, which he spends on hotdogs and hamburgers. Now Ronald's income decreases to 10 per week and the price of a hotdog doubles.
 
  Ronald's budget line becomes ________ and ________. A) flatter; shifts rightward
  B) flatter; does not shift
  C) steeper; shifts rightward
  D) steeper; shifts leftward

Question 2

The figure above shows a monopoly firm's demand curve. The monopoly's total revenue is zero at point
 
  A) x.
  B) r.
  C) t.
  D) u.


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Mollythedog

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

D

Answer to Question 2

A


swpotter12

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

amit

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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