Refer to the information provided in Figure 3.11 below to answer ...

[kaid0807]

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[tashiedavis420]

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[s.tung]

Question 1

Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.










Refer to Figure 6.2. Along budget constraint 
AC, the opportunity cost of one gardenburger is

◦ 1/4 of a beer.
◦ 1 beer.
◦ 2 beers.
◦ changing as Mr. Lingle moves down his budget constraint.

Question 2

Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.










Refer to Figure 6.2. Along budget constraint 
AC, the opportunity cost of one beer is

◦ 1/4 of a gardenburger.
◦ 1 gardenburger.
◦ 2 gardenburgers.
◦ changing as Mr. Lingle moves down his budget constraint.

[tjayeee]

Answer 1

1 beer.

Answer 2

1 gardenburger.

[stevenposner]

Question 1

Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.










Refer to Figure 6.2. Mr. Lingle's budget constraint is 
AC. His choice set is all points

◦ in the area bounded by O
AC.
◦ to the right of budget constraint 
AC.
◦ along budget constraint 
AC.
◦ along the vertical and horizontal axes.

Question 2

Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.










Refer to Figure 6.2. Mr. Lingle's budget constraint is 
AC. Point 
E is

◦ an available option and Mr. Lingle exactly spends all of his income.
◦ an available option and Mr. Lingle does not spend all of his income.
◦ not in Mr. Lingle's opportunity set but is on his budget constraint.
◦ not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot purchase with his current income.

[samiel-sayed]

Answer 1

in the area bounded by O
AC.

Answer 2

an available option and Mr. Lingle does not spend all of his income.

[stevenposner]

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[samiel-sayed]

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[gbarreiro]

Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.










Refer to Figure 6.2. Mr. Lingle's budget constraint is 
AC. Point 
C is

◦ an available option and Mr. Lingle exactly spends all of his income.
◦ an available option and Mr. Lingle does not spend all of his income.
◦ not in Mr. Lingle's opportunity set but is on his budget constraint.
◦ not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot purchase with his current income.

[kkenney]

an available option and Mr. Lingle exactly spends all of his income.