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1. If Budget = $4 and Price of Water is $1, construct the Budget Line when Price of Pie is $1 Calculate the slope of
| 1. If Budget = $4 and Price of Water is $1, construct the Budget Line when Price of Pie is $1 | |||||||||
| Calculate the slope of the B.L. (opportunity cost) | |||||||||
| Compare the above B.L. with the initial one ( Budget = $4, Price of Water is $1 and Price of Pie is $0.50) | |||||||||
| 2. If Budget = $4 and Price of Water is $1, construct the Budget Line when Price of Pie is $0.25 | |||||||||
| Calculate the slope of the B.L. (opportunity cost) | |||||||||
| Compare the above B.L. with the initial one ( Budget = $4, Price of Water is $1 and Price of Pie is $0.50) | |||||||||
| 3. If Budget = $4 and Price of Water is $0.50, construct the Budget Line when Price of Pie is $1 | |||||||||
| Calculate the slope of the B.L. (opportunity cost) | |||||||||
| Compare the above B.L. with the initial one ( Budget = $4, Price of Water is $1 and Price of Pie is $0.50) | |||||||||
| 4. If Budget = $4 and Price of Water is $0.50, construct the Budget Line when Price of Pie is $0.25 | |||||||||
| Calculate the slope of the B.L. (opportunity cost) | |||||||||
| Compare the above B.L. with the initial one ( Budget = $4, Price of Water is $1 and Price of Pie is $0.50) |
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Why Nations Fail The Origins Of Power, Prosperity, And Poverty
Authors: Daron Acemoglu, James Robinson
1st Edition
0307719227, 9780307719225
