Mathematics, 25.02.2020 16:17 abdullahs4639
Kate earns $300/week which she spends entirely at the grocery store where she buys either food (F) or alcohol (A). Let XF represent the quantity of food Kate purchases, and XA the quantity of alcohol.
Let PF = $1 and PA = $3. Illustrate Kate’s budget constraint (place XF on the horizontal axis).
What is the vertical value of the vertical intercept for your budget constraint?
Answers: 1
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Kate earns $300/week which she spends entirely at the grocery store where she buys either food (F) o...
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