Antonio buys five new college textbooks during his first year at school at a cost of $80 each. Used books cost only $50 each. When the bookstore announces that there will be a 50 percent increase in the price of new books and a 50 percent increase in the price of used books, Antonio's father offers him $200 extra. What happens to Antonio's budget line? 1.) Using the line drawing tool, graph Antonio's original budget line. Label this line L1. 2.) Using the line drawing tool, then graph Antonio's new budget line. Label this line L2. Carefully follow the instructions above, and only draw the required objects.
Antonio buys five new college textbooks during his first year at school at a cost of $80 each. Used books cost only $50 each. When the bookstore announces that there will be a 50 percent increase in the price of new books and a 50 percent increase in the price of used books, Antonio's father offers him $200 extra. What happens to Antonio's budget line? 1.) Using the line drawing tool, graph Antonio's original budget line. Label this line L1. 2.) Using the line drawing tool, then graph Antonio's new budget line. Label this line L2. Carefully follow the instructions above, and only draw the required objects.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Antonio buys five new college textbooks during his first year at school at a cost of
$80
each. Used books cost only
$50
each. When the bookstore announces that there will be a
50
percent increase in the price of new books and a
50
percent increase in the price of used books, Antonio's father offers him $200 extra.What happens to Antonio's budget line?
1.) Using the line drawing tool, graph Antonio's original budget line. Label this line
L1.
2.) Using the line drawing tool,
then
graph Antonio's new budget line. Label this line
L2.
Carefully follow the instructions above, and only draw the required objects.
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