Flanders likes to run long races only. That is, he hates running for less than two hours (each of the first 120 minutes of running make him worse
View the step-by-step solution to:

Question

# Explain me the

diagram for questions 1 and 2

Flanders likes to run long races only. That is, he hates running for less than two hours (each of
the first 120 minutes of running make him worse than before) but, after 120 minutes of running,
each additional minute of running makes him feel better. Flanders has eight free hours a day.
1. Draw Flanders's budget line between hours spent running (measured on the horizontal
axis) and hours spent on other leisure activities (measured on the vertical axis). What is
the slope of the budget line? What is the economic meaning of that slope?
2. Flanders chooses to run five hours each day. Illustrate this in a budget line/Indifference
curve diagram (make sure the time spent running is measured on the horizontal axis.)
How does your diagram show he chooses to run five hours each day?

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

### -

Educational Resources
• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents