Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys. The graph shows Mauricio's initial budget constraint. The price per unicycle is $180 and per monkey is $135. Using the graph, show what happens to Mauricio's budget line when the price of unicycles increases to $270. Then, answer the question. Quantity of unicycles 10 9 8 7 3 2 1 0 0 1 2 Budget line 3 4 5 6 Quantity of monkeys 7 8 9 10
Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys. The graph shows Mauricio's initial budget constraint. The price per unicycle is $180 and per monkey is $135. Using the graph, show what happens to Mauricio's budget line when the price of unicycles increases to $270. Then, answer the question. Quantity of unicycles 10 9 8 7 3 2 1 0 0 1 2 Budget line 3 4 5 6 Quantity of monkeys 7 8 9 10
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What is Mauricio's budget for monkeys and unicycles?
![Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys.
The graph shows Mauricio's initial budget constraint. The price per unicycle is $180 and per monkey is $135. Using the graph,
show what happens to Mauricio's budget line when the price of unicycles increases to $270. Then, answer the question.
Quantity of unicycles
10
9
8
7
3
2
1
0
0
1
2
Budget line
3
4
5
6
Quantity of monkeys
7
8
9
10](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F80fac62b-1f91-4b94-88b2-6d2c841a4645%2F6827fd8f-e842-421d-afb9-6df425171348%2F2ejdsuy_processed.png&w=3840&q=75)
Transcribed Image Text:Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys.
The graph shows Mauricio's initial budget constraint. The price per unicycle is $180 and per monkey is $135. Using the graph,
show what happens to Mauricio's budget line when the price of unicycles increases to $270. Then, answer the question.
Quantity of unicycles
10
9
8
7
3
2
1
0
0
1
2
Budget line
3
4
5
6
Quantity of monkeys
7
8
9
10
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