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Gregg consumes chocolate candy bars and oranges. He is given 8 candy bars and 4 oranges. He can buy or sell candy bars for $2
Gregg consumes chocolate candy bars and oranges. He is given
8
candy bars and
4
oranges. He can buy or sell candy bars for
$2
each. Similarly, he can buy or sell an orange for
$4.
If Gregg has no other source of income, draw his budget line and write the equation. What is the most he can spend, Y, on these goods?Part 2 Using the line drawing
tool,
graph Gregg's budget constraint. Label this line "L."Part 3Carefully follow the instructions above, and only draw the required object.
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