Instructions: Provide manual (hand and calculator) solutions to all problems and

Published by

Feb 27, 2023


Struggling with a similar assignment? Don’t know where to start? Don’t have time to work on this? Get a high-quality paper written for you from scratch – PLAGIARISM FREE, guaranteed to get you a good grade. To get started, please click on the Submit Your Instructions at the bottom of the page.

Provide manual (hand and calculator) solutions to all problems and clearly show your steps, calculations, and justifications for your answers. You may write your answers with ink pens; typing your answers is not required.
(25 points)
1. The U.S. government spends over $74 billion on its Supplemental Nutrition Assistance Program (SNAP) to provide millions of Americans with the means to purchase food. Suppose in the absence of SNAP, the average consumer must allocate a monthly income of $825 between food and “all other goods” such that the following budget constraint holds: $825 = $16.15A + $25.85F, where A is the monthly quantities of “all other goods” purchased and F is the monthly quantity of food purchased.
a. With the monthly quantity of “all other goods” purchased as the dependent (or “y”) variable, derive the equation of the budget line from the given budget constraint in the absence of SNAP. Clearly show your steps and calculations in 2 decimal points. Provide economic interpretations of the coefficients (numeric values) in your derived budget line equation.
b. What is the economic condition for the average consumer equilibrium in consumption of food and “all other goods” in terms of the consumer personal and market rates of substitution between food and “all other goods.” Graphically illustrate and carefully explain why the stated consumer equilibrium in consumption is true.
c. Assume that the average consumer receives a monthly SNAP (food stamps) benefit of $650 in addition to his/her personal monthly budget allocation of $825. Graphically illustrate and explain how SNAP alters the average consumer’s equilibrium if food stamps can be illegally exchanged for cash, and assuming that food is an inferior good while “all other goods” are normal goods. Show your steps and calculations, and carefully explain.
(25 points)
2. (a) Explain or discuss three reasons the theory of consumer behavior is important to a business
manager, including an example of each reason.
(b) With the theory of consumer behavior, graphically illustrate and carefully explain why a cash gift generally is preferred to an in-kind gift of equal value.
(c) Can an in-kind gift be as good as a cash gift of equal value? Explain and graphically illustrate.
(25 points)
3. You are a manager of a small manufacturing plant in a rural area where highly skilled labor is in short supply, despite that your plant currently pays its workers $30/hour. To alleviate the problem of skilled labor shortage at your plant, your firm is considering instituting one of the following workers’ compensation plans:
Plan A: Workers earn $30/hour for the first 8-hour work shift per day and overtime pay of $45 for
each hour worked beyond the regular 8-hour work shift.
Plan B: A 50% increase in the regular hourly wage of $30/hour for every hour worked by employees.
Either plan will eliminate your plant’s problem, as production and profit levels are up.
(a) With the theory of worker’s income-leisure choice (i.e., the theory of consumer behavior application in the labor market), graphically illustrate and carefully explain the impact of each plan on employment and earnings per day at your plant, assuming that leisure is a normal good. Indicate which plan the workers’ union will support for implementation and explain the economic rationale for the choice of the workers’ union.
(b) As a resident plant manager, explain why you will not support the choice by the workers’ union.
(25 points)
4 (a) With the theory of consumer behavior, explain and graphically illustrate why the individual’s demand curve for a commodity is downward sloping, assuming the case of a normal commodity with a decrease in its unit price. In your explanation, carefully distinguish between the two economic factors behind the downward-sloping nature of the individual’s demand curve.
(b) How is the individual’s demand curve different from the market demand curve for a commodity?


Need Writing Help? Our writing specialists are here 24/7, every day of the year, ready to support you! Instantly chat with an online tutor below or click here to submit your paper instructions to the writing team.

More than just an assignment.

Explore Now →

Who is this homework service for?

* If you are having a really hard class and want to get through it, then this is for you.

* If you have a medical emergency or someone close to you has a medical emergency and you don’t think you’ll be able to turn your assignment on time, this is definitely a service you could use.

* You can use us if you are having a tough Professor who won’t give you the grades you deserve.

* If you have a tight work schedule and you are getting points deducted for not submitting assignments on time.

* English might not be your first language and you feel like you are being left behind in class because of it.

* If you have a large project coming up and don’t think you have enough time to get it done well, definitely reach out to us.


Super stoked you are checking us out! We would like to help you with your assignment. We just need a few things from you:

* The full assignment instructions as they appear on your school account.

* If a Rubric is present, make sure to attach it.

* Any relevant weekly readings or learning resources.

* Include any special announcements or emails you might have gotten from your Professor regarding your assignment.

* Any templates or additional files required to complete the assignment.

If your assignment is somewhat complex and you need to explain it, please don’t hesitate to reach out to me via live chat. 



Frequently asked questions

How soon can I get my paper done?

It depends with your deadline. If you need your paper completed in 3 hours, we will deliver it in that time. All you need to do is indicate your deadline in our custom order page here. Alternatively, if you are sending us your instructions via email, please be sure to indicate your deadline.

Will it be completely original? I don't want to be caught in a case of Academic Integrity Violation.

We are as paranoid as you are. Maybe even more! And we understand that the greatest sin you can commit in your academic journey is plagiarizing your academic work. To that end, we have made sure that we check and double-check our papers using high quality plagiarism detection tools such as SafeAssign and Turnitin before submitting the paper to you.

Who is my writer? Is he/she a native English Speaker?

All our writers are native English Speakers. That is not to say that ESL writers are not good, we just prefer hiring native writers because we want the very best people working on your paper. This might mean paying a little bit more for your paper as opposed to when you pay a foreign company whose writers are non-native English Speakers.

What if I need revisions? Will your charge additional for this?

Of course not! If you do happen to require a revision on your paper, our team will handle it for you free of charge. Matter of fact, we won’t rest till you are happy with your paper. So, ask for as many revisions as you need, it’s completely FREE!

Will you give me my money back if I don't like my paper?

We have very few instances where we delivered a paper that a client didn’t fall in love with. But if it so happens that you don’t like your paper for any reason whatsoever, we’ll refund your money back no questions asked.

I have more assignments after this, can you help me with those too?

Of course! And what’s even better is that we can reserve a writer permanently to work on your entire class. This comes in handy for projects which build up on each other and where you need just one writer, one writing style.

I got my order information wrong, can I change that?

Yes you can. Just reach out to our support team via email ( or live chat here and they’ll help you change the instructions.

Can I place an order via email instead of going through the order page?

Yes you can. Email Anna at, she’s in charge of our sales team. Alternatively, you can talk to our Live Chat team here and request to speak to Anna.

Trusted by Thousands of Students

Delivering quality assignments since 2007

%d bloggers like this: