graph help economics
Question Description
1.
Suppose a consumer derives satisfaction from consuming tacos:
those from Taco Bell and those from Chipotle
a.
Graph
the budget line of the consumer under the assumption that he is offered a “buy
three, get one free” deal at Taco Bell (limit one free taco).
b.
On
separate graph, show the same deal if offered by Chipotle
c.
On a
third graph, show the consumer’s budget line of both Taco Bell and Chipoltle
are simultaneously offering this deal.
Question Description
1. Suppose a consumer derives satisfaction from consuming tacos: those from Taco Bell and those from Chipotle
a. Graph the budget line of the consumer under the assumption that he is offered a “buy three, get one free” deal at Taco Bell (limit one free taco).
b. On separate graph, show the same deal if offered by Chipotle
c. On a third graph, show the consumer’s budget line of both Taco Bell and Chipoltle are simultaneously offering this deal.