indifference curves

Suppose that Wilmaâ€s income is $56,000 per year. She can spend it on healthcare visits (V) or on all other goods (OG). The price per V is $70, and the price per OG is $150.
a. Draw Wilmaâ€s budget constraint (put V on the horizontal and OG on the vertical axis). Using indifference curves, show Wilmaâ€s optimum if she buys 366.33 OG per year.
b. Suppose that Wilmaâ€s income rises to $70,000 per year, and that she increases her consumption of V by 3. Show the new equilibrium on the graph. What is her income elasticity of demand for V?

Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code “Newclient” for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.

The post indifference curves appeared first on Custom Nursing Help.
The post indifference curves appeared first on nursing writers.

"Looking for a Similar Assignment? Order now and Get a Discount!

Feeling Lucky?

Enter your email address to spin the wheel for a chance to win exciting offers.

Scroll to Top