Movies87-2-10W2• find Jose's budget constraint. find the price of each goodUTICOT-shirtsFigure 6.2 A Choice between Consumption Goods José has income of $56. Movies cost $7 and T-shirts cost$14. The points on the budget constraint line show the combinations of affordable movies and T-shirts.Instructions:1. Go to the textbook and analyze the Figure 6.2A exercise in Section 6.1.Think of the paragraph as an exercise and transform the information in data:5• find the maximum consumption for each good based on his budget constraintidentify how to calculate the maximum consumptionW• identify where is this maximum consumption located on the graph• find on the graph Jose's specific combination choices of both goodsidentify and calculate the slope of Jose's budget constraint. explain that slope in a sentence, as learned in class.

Budget constraint indicates the total amount of money that is available with the consumer to spend…

- find jose's budget constraint • find the price of each good • find the maximum consumption for each good based on his budget constraint . identify how to calculate the maximum consumption . identify where is this maximum consumption located on the graph . find on the graph Jose's specific combination choices of both goods identify and calculate the slope of jose's budget constraint explain that slope in a sentence, as learned in class. .

- find jose's budget constraint • find the price of each good • find the maximum consumption for each good based on his budget constraint . identify how to calculate the maximum consumption . identify where is this maximum consumption located on the graph . find on the graph Jose's specific combination choices of both goods identify and calculate the slope of jose's budget constraint explain that slope in a sentence, as learned in class. .

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 4SQP

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