1.1. Monifa plans to spend her income on concert tiets and movie tiets. Suppose that she has...

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1.1. Monifa plans to spend her income on concert tiets and movie tiets. Suppose that she has an income of $100. e price of a concert tiet is $20, and the price of a movie tiet is $10.

a. Draw, and carefully label, a budget line diagram illustrating the consumption combinations that she can afford.

b. Can she afford 6 movie tiets and 1 concert tiet? Label this point on your graph.

c. Can she afford 2 movie tiets and 6 concert tiets? Label this point on your graph.

d. Can she afford 4 movie tiets and 3 concert tiets? Label this point on your graph.

e. Whi of the combinations mentioned just uses up all her income?

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Macroeconomics In Context

ISBN: 9781032170374

4th Edition

Authors: Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, Mariano Torras

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