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Johnny Rotten consumes two commodities, namely garbage and vinyl records. He keeps the garbage in the backyard where it is eaten by goats and vermin. The reason he accepts the garbage is that people pay him $2 per sack for taking it. Johnny can accept as much garbage as he wishes at that price. He has no other source of income. Each record costs him $6
(a) If Johnny accepts zero sacks of garbage, how many records can he buy?
(b) If he accepts 15 sacks of garbage, how many records can he buy?
(c) Write down an equation for his budget line?
(d) Draw Johnny’s budge line and shade in his budget set.
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The Food and Drug Administration (FDA) just gave you the approval to sell your new patented drug which reduces the aches and pains associated with doing IO homework. You spent 10 years and $1.5 billion to market this drug under the brand name eazIO. ..
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