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Author Question: Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are ... (Read 912 times)


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genevieve1028

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Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. What happens if Max's mother gives him 30 pounds of burger?
◦ Max would have preferred receiving the dollar value of the burger.
◦ Max prefers this gift to the dollar value of the burger.
◦ Max is indifferent between this gift and the dollar value of the burger.
◦ None of the above.



Ahernandez18

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Max would have preferred receiving the dollar value of the burger.



RYAN BANYAN

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Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. What happens if Max receives a $100 cash grant to buy either meat or chicken?
◦ Max will double his consumption of both meats.
◦ Max will take advantage of the gift by buying all chicken because it is the more expensive meat.
◦ Max will spend it all on burger. Because of its lower price, he can buy more of it.
◦ There is not enough information to answer the question.



helenmarkerine

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There is not enough information to answer the question.





SO00

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Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. Which of the following best describes Max's preferences?
◦ a = b > c
◦ a = b > e
◦ d = b = e
◦ d > b > e




 

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