Order the answer to: Suppose that an electric company…
| Question | Suppose that an electric company charges consumers $:10 per kilowatt hour for electricity for the first 1,000 kilowatt hours used in a month but $:15 for each extra kilowatt hour after that. Draw the budget constraint for a consumer facing this price schedule, and discuss why many individuals may choose to consume exactly 1,000 kilowatt hours? |
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| Subject | business-economics |
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