5. Becky plays the cello as part of a string duo and advertises booking opportunities using brochures she distributes in coffee shops around the city. Making one grayscale brochure costs $0.02, but adding color increases the cost to $0.10 per brochure. Becky sets aside a monthly budget of $20.00 for creating brochures. The following graph shows three of Becky's indifference curves for the number of grayscale and color brochures that she makes. Use the green line (triangle symbol) to plot Becky's budget constraint. Then, place the black point (plus symbol) on the graph to indicate Becky's optimal consumption choice given that budget constraint. GRAYSCALE BROCHURES 1000 900 800 700 600 500 400 300 200 100 ence curves and utility maximiz 0 0 25 50 75 +¹3 100 125 150 175 200 225 250 COLOR BROCHURES Budget Constraint Optimum ? At the optimum that you indicated on the graph, Becky's marginal rate of substitution is equal to color. in grayscale per brochure in

5. Becky plays the cello as part of a string duo and advertises booking opportunities using brochures she distributes in coffee shops around the city. Making one grayscale brochure costs $0.02, but adding color increases the cost to $0.10 per brochure. Becky sets aside a monthly budget of $20.00 for creating brochures. The following graph shows three of Becky's indifference curves for the number of grayscale and color brochures that she makes. Use the green line (triangle symbol) to plot Becky's budget constraint. Then, place the black point (plus symbol) on the graph to indicate Becky's optimal consumption choice given that budget constraint. GRAYSCALE BROCHURES 1000 900 800 700 600 500 400 300 200 100 ence curves and utility maximiz 0 0 25 50 75 +¹3 100 125 150 175 200 225 250 COLOR BROCHURES Budget Constraint Optimum ? At the optimum that you indicated on the graph, Becky's marginal rate of substitution is equal to color. in grayscale per brochure in

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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