Answer the following questions based on the table.A consumer is able to consume the following bundles of rice and beans when the price of rice is $2 and the price of beans is $3.
a.How much is this consumer's income?
b.Draw a budget constraint given this information.Label it B.
c.Construct a new budget constraint showing the change if the price of rice falls $1.Label this C.
d.Given the original prices for rice ($2) and beans ($3), construct a new budget constraint if this consumer's income increased to $48.Label this D.
Definitions:
Oasis Theory
A theory suggesting that agriculture and the domestication of animals originated in areas where water resources such as rivers and lakes are abundant.
Origins Of Food Production
The historical and anthropological study of how human societies began to cultivate crops and domesticate animals for food.
Fertile Crescent
A historical region in the Middle East known for its rich soils and early development of agriculture, stretching from the Nile Valley through the Levant and into the western parts of Iran.
Southwest Asia
A geographical region that includes countries such as Turkey, Saudi Arabia, and Iran, often considered part of the Middle East.
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