Only typed answer and please don't use chatgpt You are looking for a new apartment in Manhattan. Your income is $4,000 per month, and you know that you should not spend more than 25 percent of your income on rent. You have come across the following listing for one-bedroom apartments on craigslist. You are indifferent about location, and transportation costs are the same to each neighborhood. Chelsea$1,200 Battery Park$2,200 Delancey$950 Midtown$1,500Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. a. Which apartments fall within your budget? Chelsea Battery Park Delancey Midtownb. Suppose you adhere to the 25 percent guideline but also receive a $1,000 monthly cost-of-living supplement since you are living and working in Manhattan. Which apartments fall within your budget now?Chelsea Battery Park Delancey Midtown

The budget constraint is the locus of all affordable consumption bundles at the given income of the…

Answered: ou are looking for a new apartment in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Only typed answer and please don't use chatgpt

You are looking for a new apartment in Manhattan. Your income is $4,000 per month, and you know that you should not spend more than 25 percent of your income on rent. You have come across the following listing for one-bedroom apartments on craigslist. You are indifferent about location, and transportation costs are the same to each neighborhood.

	Chelsea	$1,200
	Battery Park	$2,200
	Delancey	$950
	Midtown	$1,500

Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers.

a. Which apartments fall within your budget?

	Chelsea
	Battery Park
	Delancey
	Midtown

b. Suppose you adhere to the 25 percent guideline but also receive a $1,000 monthly cost-of-living supplement since you are living and working in Manhattan. Which apartments fall within your budget now?

Chelsea
	Battery Park
	Delancey
	Midtown

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