Please check answers and show your work for sections a-d. Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to buy bus tickets and train tickets. Thetrain costs $120 per trip, and the bus costs $40.a. Graph Jordan's budget constraint. Use the tool provided (BCa). Draw only the endpoints such that the first point touches the verticalaxis and the second point touches the horizontal axis.BC,Train trips7BC.6 -5.432BC.BC.48101214161820Bus tripsresetb. How many total trips can Jordan take if she takes the train three times?c. Suppose Jordan's travel budget is cut to $360. Draw Jordan's new budget constraint. Use the tool provided (BC). Draw only theendpoints such that the first point touches the vertical axis and the second point touches the horizontal axis.d. What happens to Jordan's utility after the budget cut in (c)? (Click to select)How do you know?

Budget (M) - $600 Train cost - $120 Bus cost - $40 New Budget (M') = $360

Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to buy bus tickets and train tickets. The train costs $120 per trip, and the bus costs $40. a. Graph Jordan's budget constraint. Use the tool provided (BCa). Draw only the endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis. вс, Train trips 7 BC. 6 5 4 3 BC вс. 6 8 10 12 14 16 18 20 Bus trips reset b. How many total trips can Jordan take if she takes the train three times? c. Suppose Jordan's travel budget is cut to $360. Draw Jordan's new budget constraint. Use the tool provided (BCJ. Draw only the endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis.

Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to buy bus tickets and train tickets. The train costs $120 per trip, and the bus costs $40. a. Graph Jordan's budget constraint. Use the tool provided (BCa). Draw only the endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis. вс, Train trips 7 BC. 6 5 4 3 BC вс. 6 8 10 12 14 16 18 20 Bus trips reset b. How many total trips can Jordan take if she takes the train three times? c. Suppose Jordan's travel budget is cut to $360. Draw Jordan's new budget constraint. Use the tool provided (BCJ. Draw only the endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please check answers and show your work for sections a-d.

Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to buy bus tickets and train tickets. The
train costs $120 per trip, and the bus costs $40.
a. Graph Jordan's budget constraint. Use the tool provided (BCa). Draw only the endpoints such that the first point touches the vertical
axis and the second point touches the horizontal axis.
BC,
Train trips
7
BC.
6 -
5.
4
3
2
BC.
BC.
4
8
10
12
14
16
18
20
Bus trips
reset
b. How many total trips can Jordan take if she takes the train three times?
c. Suppose Jordan's travel budget is cut to $360. Draw Jordan's new budget constraint. Use the tool provided (BC). Draw only the
endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis.
d. What happens to Jordan's utility after the budget cut in (c)? (Click to select)
How do you know?

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