Question

Ch 2 TUTORIAL) For all of the following scenarios assume that you have income of $1000. LABEL ALL RELEVENT POINTS! (it is best if you used MULTIPLE COLORS) 1) Consider a world where there are only Bagels (x-axis) and Pogo Sticks (y-axis). A bagel costs $5 and a Pogo Stick Costs $100. Draw this Budget Constraint and label it BC1. 2) If the price of a Pogo Stick drop to $50, draw a second line for this Budget Constraint called BC2. 3) If the price of a Bagel increases to $10, draw this and label it BC3 4) Returning to the original scenario of $100 per Pogo Stick. a) If you had a coupon that YOUR FIRST 6 Pogo Sticks were half price, what would that Budget Constraint be? Label it BC4. b) If you had a coupon that AFTER you bought your first 8 the remaining were half price, what would that Budget Constraint be? Label it BC5. 20 15 - 100

Answer 1

1) Income (M)= $1000 Horizontal Intercept: Vertical intercepts 1000 5 200 المفهو I cort Dogo Stick cost ? 10010 2) Vertical Intercept proces bith cost = » Horizontal Intercept - enger comme = lo vo - do = 100 al Intercept o 140,6) cas cost of fiest o pogo sticks = $50 x6 = $300 1. So, money left for baget = 1000 - 300= $700 - so, bagels bought - 100 = 140 . Pogo sticks bought with remaining $700 = 700 = 1 so, total pago sticks bought = 6+7=13 ( vertical or Horizontal intercept = 200. kinh = (x,y) - khay (140, 62 cost g fiest pogo sticka = 8x100 = 800 Money left = 1000 - 800 - $400 Bagels bought = 200 = 40 logo sticks bought with remaining $90. Doo - Yo cas price of pogo sticks is halved = soge So, total gogo sticks bought = 8+4 = 12 (vertical e intercept) CS Horizontal witJntercept = leido Bank < (214) z lyº, 8) . CamScanner

BC2 pão o o BC 3 ai scanned to CamScanner loo 190 gno