Christopher Makler
Stanford University Department of Economics
Econ 50
Checkpoint I Review Session
Warmup Question
Apples
Oranges
3
12
E
You have an endowment of 12 apples and 3 oranges. You can buy more apples or oranges for $3 each; however, if you want to sell any fruit, you will only get $2 for each piece of fruit you sell.
What is the vertical intercept of your budget constraint?
pollev.com/chrismakler
