Suppose you have 120 to spend on food and clothing the, Ask an Expert

Economics

Suppose you have $120 to spend on food and clothing. The price of food is $4 and the price of clothing is $8. a, Graph your budget constraint; calculate the slope of it. b, Briefly explain why your optimal choice is the point at which your budget constraint is tangent to an indifference curve. Show all steps.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91722256

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