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Yakov likes going to the ballpark to watch baseball, and he also is fond of going to the theater to listen to the symphony orchestra.
Yakov likes going to the ballpark to watch baseball, and he also is fond of going to the theater to listen to the symphony orchestra. The following diagram shows two of Yakov's indifference curves for going to ballgames and symphonies. With Yakov's initial budget constraint (BC1), he chose to go to two symphonies and six baseball games per month (point X). Then his budget constraint shifted to (BC2), and he chose to go to five symphonies and five ballgames per month (point Y).
10 8 6 5 BALL GAMES T BC 0 0 2 5 10 SYMPHONIESStep by Step Solution
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