Question
Because budget and prices are prone to change, Jos's budget line can shift and pivot. For example, 1.if Jos's budget is $56 ;Price of movies:
Because budget and prices are prone to change, Jos's budget line can shift and pivot. For example,
1.if Jos's budget is $56 ;Price of movies: $7Price of T-shirts: $14 and how many shirts and movies Jose can enjoy? Show your solution.
2. If income drops from $56 to $42, and prices remain constant, : Determine the extreme number of shirts and movies Jose can enjoy. Show your solution. Budget: $42
3.In Preparing for each graph, Plot the initial or original budget line and show the initial intercepts. Plot the new budget line, and find the new intercepts.
4. Suppose from original budget of $56, movies double in price from $7 to $14 and price of shirt is constants 14. Show your solution. Plot the inital Budget line and plot the new BL and simply Find the intercept.
5.Label the graph properly or completely, and give a brief explanation.
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