Jose gets satisfaction from both music (M) and fireworks (F). Jose's income is $240 per week. Jose can buy a song on iTunes for $1, and fireworks cost $8 per bag.

1. Write down a mathematical expression of Jose's budget constraint

2. Use a graph to illustrate Jose's budget constraint (plot in music (M) in the y-axis and fireworks (F) in the x-axis)

3. What is the slope of the budget constraint?

4. Suppose that a holiday bonus raises Jose's income temporarily to $360. Use the same graph you drew to represent Jose's new budget constraint.