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10. Jos gets satisfaction from both music and fireworks. Jos's income is $240 per week. Music costs $12 per CD, and fireworks cost $8 per
10. Jos gets satisfaction from both music and fireworks. Jos's income is $240 per week. Music costs $12 per CD, and fireworks cost $8 per bag. a. Graph the budget constraint Jos faces, with music on the vertical axis and fireworks on the horizontal axis. b. If Jos spends all his income on music, how much music can he afford? Plot a point that illustrates this scenario. c. If Jos spends all his income on fireworks, how many bags of fireworks can he afford? Plot a point that illustrates this scenario. d. If Jos spends half his income on fireworks and half his income on music, how much of each can he afford? Plot a point that illustrates this scenario. e. Connect the dots to create Jos's budget constraint. What is the slope of the budget constraint? f. Divide the price of fireworks by the price of music. Have you seen this number before and, if so, where? g. Suppose that a holiday bonus raises Jos's income temporarily to $360. Draw Jos's new budget constraint. h. Indicate the new bundles of music and fireworks that are feasible, given Jos's new income
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