Economics 1021A/B Lecture Notes - Lecture 1: Root Beer, Demand Curve, Real Income

• School: Western University
• Department: Economics
• Course: Economics 1021A/B
• Professor: Emilie Rivers

Document Summary

Economics: canada in the global environment, 7e (parkin) 9. 1 consumption possibilities: guy has an income (y) of with which he can purchase dvds (d) at each and haircuts (h) at each. Which one of the following represents guy"s budget line: y = 10qd - 20qh, 50 = qd + qh, y = 50 + qd + qh, 20y = qd + 10qh, 50 = 10qd + 20qh. Figure 9. 1. 1: shelly"s budget line is shown in figure 9. 1. 1 which point is unaffordable given her income and current prices, a and b, b only, c only, c and d only, all points are unattainable. 2010 pearson education canada: shelly"s budget line is shown in figure 9. 1. 1. Which points are affordable given her income and current prices: a, b, c, d, a, c, and d. What is david"s real income: , 5 movie tickets or 15 bus tickets, 15 movie tickets or 5 bus tickets, , .