Draw jenny''s budget line, with beans on the vertical axis

Reference no: EM131240680

Jenny divides her income between corn and beans. She has a total of $100. Beans cost $10 per sack, and corn costs $20 per sack.

a. Draw Jenny's budget line, with beans on the vertical axis.

b. The price of both beans and corn decreases by 50%, to $5 and $10 respectively. Draw the change in Jenny's budget line on the graph in part (a).

c. What other event could have produced the change you diagrammed in your answer to part b?

Reference no: EM131240680

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