DVDs (per month)10-9-8-5433-2-1-1A7Books (per month)2 3 4 5 6-08910 On the diagram to the right is plotted a single bundle of 2 books and 3DVDs consumed per month. This bundle is a point on the consumer'sbudget constraint.If the price of one book is $135.00 and one DVD is $90.00, thenthe consumer's level of monthly income is $540 (round your answer tothe neareast dollar).Use the line drawing tool to draw the consumer's budget constraint. Labelthis line 'Budget'.Carefully follow the instructions above, and only draw the required object.

In the question above, it is given a plotted diagram of a single bundle of 2 books and 3 DVDs…

Answered: DVDs (per month) 10- 4 3- 2- 0 3 1 -2 A…

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Economics

DVDs (per month) 10- 4 3- 2- 0 3 1 -2 A 3 4 5 6 7 Books (per month) 8 9 10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

DVDs (per month)
10-
9-
8-
5
4
3
3-
2-
1-
1
A
7
Books (per month)
2 3 4 5 6
-0
8
9
10

On the diagram to the right is plotted a single bundle of 2 books and 3
DVDs consumed per month. This bundle is a point on the consumer's
budget constraint.
If the price of one book is $135.00 and one DVD is $90.00, then
the consumer's level of monthly income is $540 (round your answer to
the neareast dollar).
Use the line drawing tool to draw the consumer's budget constraint. Label
this line 'Budget'.
Carefully follow the instructions above, and only draw the required object.

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Step 1: Budget constraint:-

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Step 2: Answer and Explanation-

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Step 3: Consumers budget constraint graph:-

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Solution

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