When most people think of vegetarians, they think of lacto-ovo-vegetarians. People who do not eat beef, pork, poultry, fish, shellfish or animal flesh of any kind, but do eat eggs and dairy products are lacto-ovo vegetarians (âlactoâ comes from the Latin for milk, and âovoâ for egg). Lacto-vegetarian is used to describe a type of vegetarian who does not eat eggs but does eat dairy products.
Also in the context of consumption possibility curve, the opportunity cost of the x-axis product is equal to the price of x divided by the price of y, to calculate it for the y-axis product, we take the inverse of that number. Presented by: Ablay, Bernadeth.
Saving will be zero at the $1,500 level of national income. This is because saving is that part of national income not spent on consumption. If consumption is equal to national income, then saving must be zero. The saving curve must run through the point $1,500 on the national income axis.his is. autonomous consumption â the value for a in the consumption equation. Also, for each $100 billion increase in national income, there is a $75 billion increase in consumption spending, which gives us a slope of .75 â the value for b in the consumption equation.