a) Consumers' opportunity set show the various combination of two good that are available given the amount of income and prices? Do you agree or disagree. Discuss
b) Suppose all prices doubled and at the same time consumers' income also doubled, will this alter the consumer's opportunity set. If yes, explain. If no, explain© BrainMass Inc. brainmass.com October 17, 2018, 12:35 pm ad1c9bdddf
a) This statement is true for a two-good model. In this case the opportunity set shows all possible consumption bundles of the two goods that someone can afford given the prices of the two goods and the person's income level. It is constraint by the budget line as follows;
P1X1 + P2X2 ≤ consumer's income
However, this relationship ...
Consumers' opportunity set shows all possible consumption bundles of n goods that someone can afford given the prices of the n goods and the person's income level. It is constraint by the budget equation as follows:
P1X1 + P2X2 + P3X3 + ...................... + PnXn ≤ consumer's income. Consumers can consume at the maximum level on his or her budget line. However, he or she can consume anywhere below the budget constraint. In this case he or she doesn't exhaust his or her income.
Entry Strategy for Home Depot: Risks. Opportunities, and Threats
Assess the risks. opportunities, and threats, in terms of political, legal, and economic efforts within the context of Home Depot of entering into the UK market. Please use APA style and use and cite references. This is an International management class and the focus on the question is part of an entry strategy for Home Depot. Please identify and asses the risks above that would occur in the U.K. for Home depot. Generic risks are needed but ones specific to UK market is paramount.View Full Posting Details