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s.h_math s.h_math
wrote...
Posts: 293
Rep: 3 0
A year ago
Could you help me with this particular question?

Dale likes to consume both sweatshirts and jackets. The price of a
sweatshirt is $20, while the price of a jacket is $60.
If Dale's marginal benefit of another sweatshirt is $60, what must be the
marginal benefit of another jacket? Assume Dale is optimizing by using
the "equal bang for your buck" rule.
The marginal benefit of another jacket must be $ 180 . (Enter your
answer as a whole number.)
Draw Dale's budget set, assuming he has $120 to spend. Show the shift
in this budget set when the price of jackets decreases to $30.
1 .) Using the line drawing tool, draw Dale's budget constraint at the
original prices of $20 for a sweatshirt and $60 for a jacket. Label the line
'BCI '
2.) Using the line drawing tool, draw the new budget constraint after the
price of jackets decreases to $30. Label the line 'BC2
Carefully follow the instructions above and only draw the required
objects.
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wrote...
Valued Member
Educator
A year ago
Hi s.h_math

I found a similar question with slightly different numbers that can help you answer yours.

Let me know what you think, and if it were helpful
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s.h_math Author
wrote...
A year ago
Uhm, I'm not sure how you get 6 jackets and 18 sweatshirts in total?
wrote...
Valued Member
Educator
A year ago
Show the shift in this budget set when the price of jackets decreases

You take your budget, 180, divide by the price of each item.

So for jackets it's 120 / 60 = 2, and for sweatshirts its 120 / 20 = 6.

Does that help?
s.h_math Author
wrote...
A year ago
Yes, that definitely helps, would you believe my graph is correct? Please let me know, thanks a lot!
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wrote...
Valued Member
Educator
A year ago
Looks similar to the one in the example I provided. What are those black lines?
s.h_math Author
wrote...
A year ago Edited: A year ago, s.h_math
The black line is just the pointer to label the graph line sir.
Post Merge: A year ago

The black line is just the pointer to label the graph line sir.
wrote...
Valued Member
Educator
A year ago
I haven't verified if it's 100 percent right, but it does look similar to the style of the other question.
s.h_math Author
wrote...
A year ago
Do you know when you would be able to verify it 100%?
wrote...
Valued Member
Educator
A year ago
So after the jacket decreases by 30, now the jacket is worth 30 dollars a piece. 180 divided by 30 is 6.

That is reflected in your graph.
s.h_math Author
wrote...
A year ago
It said this
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wrote...
Valued Member
Educator
A year ago
Hmmm. I'm not certain to be honest 😥 What can you make of that?
s.h_math Author
wrote...
A year ago Edited: A year ago, s.h_math
Would you mind checking if this would work better?
Post Merge: A year ago

i'm on my last try Frowning Face
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wrote...
Valued Member
Educator
A year ago
It looks right to me, but I was wrong the last time. I wish I could be more certain
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