Which of the Following Describes a Budget Line

Who are the experts. B shifts farther away from the origin of the graph.

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C the price of one good changes.

. The budget line shows the limits to a households con-sumption. I When the level of income increases. The consumer chooses A on budget line I1 and B on budget li.

3 A households real income is the income expressed as a quantity of goods the household can afford to buy. C shows that the consumer has chosen to spend all of his or her income on both products. Which of the following rankings describes the consumers preferences first is highest ranked and last is lowest ranked.

B the consumers preferences change. Which of the following describes a budget line. A a sales price cost or quantity that is expected under normal conditions.

4 Which of the following best describes a standard. C does not change. Which of the following describes a budget line.

A curve showing various combinations of two products a consumer can purchase with a specific amount of income. D is affordable and because it is inside the budget line means that all the persons budget has been spent. A It shows all combinations of goods among which the consumer is indifferent.

A curve showing various combinations of two or more products a consumer can purchase at different prices. A budget constraint is simply an illustration showing what can be purchased the trade-off between two goods given a fixed amount of income. D 46 A budget line will shift outward and not change its slope ifA there is an increase in the consumers budget.

The budget line A becomes steeper. Which of the following describes a budget line. When the line item funding is 5 million or more in any of the budget years covered by the budget request When the program element funding is 1 million or more in any budget year covered by the budget request When a P-5 budget exhibit is prepared for a line item When it covers a.

D the price of both goods increase by the same percentageE None. A curve showing various combinations of two products a consumer can purchase with a specific amount of income. Please consider the following figure.

B A curve showing various combinations of two products an economy can produce with a specific amount of resources. A a sales price cost or quantity that is expected under normal conditions B costs incurred to produce a product C budgeted amount for total product cost D actual sales price cost or quantity Answer. This question hasnt been solved yet Ask an expert Ask an expert Ask an expert done loading.

The formula for the budget line in this figure is. 5 Which of the following describes what happens to a consumers budget line if that consumers budget increases. Which of the following statements best describes a consumers budget line.

Which of the following describes what happens to a consumers budget line if that consumers budget increases. 1 A consumption point inside the budget line A is unaffordable. The P - 10 provides detail on each Advance Procurement line item that is on the P -.

Budget line is a line showing different combinations of two goods which a consumer can attain at his given income and market price of the goods eg P xQ x P YQ y M. B shows that the consumer spends income on only one of the goods. D It shows the consumption choices made by a consumer.

Which of the following describes a budget line. A A schedule showing various combinations of three or more products a consumer can purchase at different prices. Which of the following describes a budget line.

In terms of soda is the households real income. A curve showing various combinations of three or more products a consumer can purchase at different prices. C It shows the desired level of consumption for the consumer.

We review their content and use your feedback. The consumer chooses A on budget line I1 and B on budget line I2. Please consider the following figure.

Hence in this case Budget Line can be best described as a curve showing. Which of the following describes a budget line. Budget Line is a term or form of indication of consumers budget constraints which is used to describe several combinations of two commodities a consumer can buy considering both the prices of these commodities and a certain amount of income available to the consumer over a given period.

Figure 81 graphs a budget line. Which of the following describes an activity of an entrepreneur. A curve showing various combinations of two products a consumer can purchase with a specific amount of income.

A trade-off occurs when some quantity of production or consumption of a good or service is given up in order to produce or consume another good or serrvice. Which of the following describes what happens to a. It can shift to the right due to following reasons.

B It shows the limits to a consumers set of affordable consumption choices. E shifts closer to the origin of the graph. D becomes more horizontal.

A a Nigerian deciding the yearly budget for a government department B a South African agreeing to work extra hours to impress her employer c a South African creating and selling a line of non-electric slow cookers a Nigerian suggesting a new marketing strategy at an oil company. Correct Answer True Trade-offs arising from limited incomes give rise to Multiple choice question. Experts are tested by Chegg as specialists in their subject area.

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