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ECON-Week-7

ECON-Week-7 - ← The Budget line also pivots along the...

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Economics: Class Notes 10/10 10/10/2007 11:39:00 P = $5 P y  = $10 Budget = $100 The opportunity cost is –P x /P = -1/2 Every Point on and below the budget line is affordable to us. If Our Income goes up, we have more to spend. Budget line shifts out.
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Unformatted text preview: ← The Budget line also pivots along the axis of the good who’s price is decreasing. ← If MB > MC Do IT!...
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