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 $120, and the price per monkey is $90. Using the graph, show what happens to Mauricio's budget line when the price of unicycles rises to $180. 10 9 8 7 What is Mauricio's budget for monkeys and unicycles? Mauricio's budget: $ Quantity of unicycles 3 2 Budget line 0 0 2 3 4 5 6 7 8 9 10 Quantity of monkeys

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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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 $120, and the price per
monkey is $90. Using the graph, show what happens to
Mauricio's budget line when the price of unicycles rises to
$180.
10
9
8
7
What is Mauricio's budget for monkeys and unicycles?
Mauricio's budget:
$
Quantity of unicycles
3
2
Budget line
0
0
2
3
4
5
6
7 8
9
10
Quantity of monkeys
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 $120, and the price per monkey is $90. Using the graph, show what happens to Mauricio's budget line when the price of unicycles rises to $180. 10 9 8 7 What is Mauricio's budget for monkeys and unicycles? Mauricio's budget: $ Quantity of unicycles 3 2 Budget line 0 0 2 3 4 5 6 7 8 9 10 Quantity of monkeys
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