Chapter 5, Problem 6P

(a)

To determine

The price of T-shirts (t) from given budget constraint $\$20s+\$5t=\$60$.

(b)

To determine

The values for quantity of t-shirts in the following table:

$\begin{array}{|ccc|}\hline \text{Bundle}& \text{Quantity of shorts (s) }& \text{Quantity of T-shirts (t)}\\ A& 0& \\ B& 1& \\ C& 2& \\ D& 3& \\ \hline\end{array}$

(c)

To determine

Graph of the budget constraint.

(d)

To determine

The opportunity cost of shorts (s) in terms of t-shirt (t).