Stitution c) A consumer has an income of C50. He can choose any combination of productX
and product Y for consumption. If price of X (Px) is C5 and price of Y (Py) is C2.50
i.
Graph the budget line of the consumer.
ii. Find the market rate of substitution.
iii.
What is the maximum quantity of Y that he can purchase? Show how it
changes when the price of good X decreases from C2.50 to C2 If the income
goes up to €75, then how will the budget line change?
iv.
Find the maximum quantity of Y that he can purchase with the new budget,
(5 mark)

answer; i believe that the correct answer is (personal information and career information; second answer; (b) flexibility,independence and salary potential

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer; a large down payment,a longer term loan, would result in a lower monthly payment;

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;