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1. This is Anthony's indifference map for guitars and drums. (9 points) Indifference Map Guitars and Drums Guliars His total budget for these instruments is
1. This is Anthony's indifference map for guitars and drums. (9 points) Indifference Map Guitars and Drums Guliars His total budget for these instruments is $2,000. The price of a guitar is $100 and the price of a drum is $100. a. Draw the budget line on the indifference map. (1 point) b. What is the optimum quantity of guitars? (1 point) C. What is the optimum quantity of drums? (1 point) Now the price of a drum falls to $50. d. Draw the new budget line on the indifference map. (1 point) e, What is the new optimum quantity of guitars? (1 point) f. What is the new optimum quantity of drums? (1 point) g . On the graph below plot the original price and quantity of drums and the price and quantity of drums after the price change, and draw the demand curve. (3 points)
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