consumer budget equation

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Question description

Construct a consumer equilibrium model for rifle ammunition with the following

  • the consumers income= $45 per day
  • rifle ammo costs $15 per box
  • all other goods cost $5 per unit
  • this consumer does not ever use a rifle. Ever. Not even a rental. has no interest in owning or using a rifle or ammo.

a) Write the consumers budget equation using info above.
b) What is the slope of the consumers budget line
c) what is the slope of the consumers indifference curve

Thank you so much for your help

Tutor Answer

(Top Tutor) Daniel C.
School: UIUC
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