Answer the Following Questions Based on the Table

question 307

Essay

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:

Transcription

The process by which the information in a strand of DNA is copied into a new molecule of messenger RNA (mRNA).

Codon

Three-base sequence in messenger RNA that during translation directs the addition of a particular amino acid into a protein or directs termination of the process.

DNA Molecule

The biological structure consisting of two long strands of nucleotides twisted into a double helix, carrying genetic information.

Bases

Substances that can accept hydrogen ions (protons) or more generally, donate electron pairs, in chemical reactions.