3. Suppose that you initially have $100 to spend on books or movie tickets. The books start off costing $25 each and the movie tickets start off costing $10 each. For each of the following situations, would the attainable set of combinations that you can afford increase or decrease?

a. Your budget increases from $100 to $150 while the prices stay the same.

b. Your budget remains $100, the price of books remains $25, but the price of movie tickets rises to $20.

c. Your budget remains $100, the price of movie tickets remains $10, but the price of a book falls to $15.

Question

Mathematics

Bryson Mcdonald

2 July, 20:06

3. Suppose that you initially have $100 to spend on books or movie tickets. The books start off costing $25 each and the movie tickets start off costing $10 each. For each of the following situations, would the attainable set of combinations that you can afford increase or decrease?

a. Your budget increases from $100 to $150 while the prices stay the same.

b. Your budget remains $100, the price of books remains $25, but the price of movie tickets rises to $20.

c. Your budget remains $100, the price of movie tickets remains $10, but the price of a book falls to $15.

+4

Answers (1)

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Moises Sullivan · Answer 1

Suppose that you initially have $100 to spend on books or movie tickets.

The books start off costing $25 each and the movie tickets start off costing $10 each.

a. Your budget increases from $100 to $150 while the prices stay the same.

Increase

b. Your budget remains $100, the price of books remains $25, but the price of movie tickets rises to $20.

Decrease

c. Your budget remains $100, the price of movie tickets remains $10, but the price of a book falls to $15.

Increase