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Discuss case of the price of a concert ticket

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Reference no: EM131581296

Question: Monifa plans to spend her income on concert tickets and movie tickets. Suppose that she has an income of $100. The price of a concert ticket is $20, and the price of a movie ticket is $10.

a. Draw, and carefully label, a budget line diagram illustrating the consumption combinations that she can afford.

b. Can she afford 6 movie tickets and 1 concert ticket? Label this point on your graph.

c. Can she afford 2 movie tickets and 6 concert tickets? Label this point on your graph.

d. Can she afford 4 movie tickets and 3 concert tickets? Label this point on your graph.

e. Which of the combinations mentioned just uses up all her income?

Reference no: EM131581296

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