If income increases, ceteris paribus, then the   Multiple Choice a) budget line rotates counterclockwise. b) budget line rotates clockwise. c) budget line shifts to the right. d) opportunity set contracts.

Jody has $360 to spend on her summer vacation. She decided to use the moneyon trips to the zoo and on tickets to the movies. Her original budget constraintis shown below. Let X represent movie tickets and Y represent trips to the zoo.i. What is the equation of the original budget constraint? ii. What is the price of a movie ticket? a trip to the zoo? iii. Assume a price change occurs and Jody now face the new budgetconstraint. What is the equation of the new budget constraint? iv. With the new budget constraint, what is the price of an amusement parkticket? a baseball ticket

Consumer Theory Daniel spends all his money on only two goods: chocolates (good 1) and milkshakes (good 2). We have information about his purchases, income and prices for 4 weeks: A, B, C and D. For each week, the budget line and the goods bought are shown on the graph below. a)  Suppose that Daniel’s preferences are transitive and satisfy "more is better". Shade all the bundles that you are certain are worse for Daniel than bundle A in one colour, and all the bundles that you are certain are better for Daniel than bundle A in a different colour. (You can use different patterns instead of colours.) Indicate which is which. Explain.

Terry attends college and works part-time in a drug store. She can work up to 40 hours each week and is paid $9 per hour. The following table shows her utility from different levels of leisure and income.  Refer to the attached picture for the table. 1. Fill in the Marginal Utility columns above. 2. What will be Terry’s total utility from both leisure and income when working 20 hours per week?

Jody has $360 to spend on her summer vacation. She decided to use the moneyon trips to the zoo and on tickets to the movies. Her original budget constraintis shown below. Let X represent movie tickets and Y represent trips to the zoo.i. What is the equation of the original budget constraint? ii. What is the price of a movie ticket? a trip to the zoo? iii. Assume a price change occurs and Jody now face the new budgetconstraint. What is the equation of the new budget constraint? iv. With the new budget constraint, what is the price of an amusement parkticket? a baseball ticket?

Suppose that the price of Good X decreases. Which of the following will happen to the budget constraint? Select one: a. It will become flatter. b. It will have the same slope but shift towards the origin. c. It will have the same slope but shift away from the origin. d. It will be become steeper.

I have completed question 4 but need help with question 5.  Data needed to answer 5 in included in question 4

Diagram the following budget constraint where Income - $10,000, Px – $100 and Py - $250.

Suppose a consumer has income of dollars 20 which to be spent on good B and A. Good B cost dollar 4 and good A cost dollar 2 ,then   A. Determine budget equation? B.draw budget line?