1.Monifa plans to spend her income on concert tickets and movie tickets.Suppose that she has an income of $100.The price of a concert ticket is $20, and the price of a movie ticket is $10.

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

b.Can Monifa afford 6 movie tickets and 1 concert ticket? Label this point on your graph.

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

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

e.Which of the combinations above just uses up all her income?

f.Suppose her income rises to $120.Add her new budget line to the previous graph.

g.Next, suppose that her income stays at $100, but the price of concert tickets drops from $20 to $12.50 each.In a new diagram, draw and carefully label both her original and her new budget lines.

h.Can she afford 2 movie tickets and 6 concert tickets after the price drop?