Y6

2 Now For Half The Price! a. A consumer has $45 to spend on gallons of gasoline and quarts of oil. A gallon of gasoline is $3 and a quart of oil is $5. Both items are bought in continuous quantities. On the axes above, graph the consumers budget constraint for gas and oil. Provide all the necessary information on the graph. b. The auto shop decides to offer quarts of oil for $3 per quart for every quart sold after the 4th quart of oil. If a consumer decides to purchase 6 quarts of oil, the first 4 quarts would cost $5 each while the 5th and 6th quart of oil would be $3 each. On the same axes above, graph the new budget constraint. Make sure to distinguish which budget constraint is which