An individual sets aside a certain amount of his income per month to spend on his two hobbies, collecting wine and collecting books. Given the information below, illustrate the demand curve for wine. Wine Price Book Price Wine 40 20 10 $15 $30 $60 Books $12 $12 $12 100 T 90- 80+ 70- 60- OB A 50- 40- 30- 20- 10- to Books 50 50 50 PCC U3 38₂ 0 10 20 30 40 50 60 70 80 90 100 Wine Budget $1200 $1200 $1200 Q Using the three-point curved line drawing tool, draw the demand curve for wine in the figure to the right. Label this curve 'Demand'. Carefully follow the instructions above, and only draw the required object. Price 70- 60- 50- 40- 30- 20- 10- 0- 0 10 20 Wine 30 40 50

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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An individual sets aside a certain amount of his income per month to spend on
his two hobbies, collecting wine and collecting books. Given the
information below, illustrate the demand curve for wine.
Wine Price Book Price Wine Books
40
50
20
50
10
50
$15
$30
$60
Books
100-
90-
80+
70- LV NA
60-
50-
40-
30-
20-
10-
0+
$12
$12
$12
.
AA
AM
.
OBI
L
PCC
U₂
10 20 30 40 50 60 70 80 90 100
Wine
Budget
$1200
$1200
$1200
o
N
Using the three-point curved line drawing tool, draw the demand curve for wine
in the figure to the right. Label this curve 'Demand'.
Carefully follow the instructions above, and only draw the required object.
C
Price
70-
60-
50-
40-
30-
20-
10-
0-
0
10
20
Wine
30
40
50
Transcribed Image Text:An individual sets aside a certain amount of his income per month to spend on his two hobbies, collecting wine and collecting books. Given the information below, illustrate the demand curve for wine. Wine Price Book Price Wine Books 40 50 20 50 10 50 $15 $30 $60 Books 100- 90- 80+ 70- LV NA 60- 50- 40- 30- 20- 10- 0+ $12 $12 $12 . AA AM . OBI L PCC U₂ 10 20 30 40 50 60 70 80 90 100 Wine Budget $1200 $1200 $1200 o N Using the three-point curved line drawing tool, draw the demand curve for wine in the figure to the right. Label this curve 'Demand'. Carefully follow the instructions above, and only draw the required object. C Price 70- 60- 50- 40- 30- 20- 10- 0- 0 10 20 Wine 30 40 50
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