Please include graph and an explanation of how the answer was solved.

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6. In problem 4, Pete's uncle gives him $60 to spend on concert tickets, so he now has $260.

a. Draw a graph that shows Pete's consumption possibilities.

b. How many rock concerts and how many operas does Pete now attend?

Information:

Problem 4

Pete enjoys rock concerts and the opera. The table shows the marginal utility he gets from each activity.

Number per month Marginal utility from Rock concerts Marginal utility from operas

1 120 200

2 100 160

3 80 120

4 60 80

5 40 40

6 20 0

Pete has $200 a month to spend on concerts. The price of a rock concert ticket is $20 and the price of an opera ticket is $40.

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QUESTION 6, CH. 7

6. In problem 4, Peteâs uncle gives him $60 to spend on concert

tickets, so he now has $260.

Draw a graph that shows Peteâs consumption possibilities.

How many rock concerts and how many operas does Pete now attend?

Information:

Problem 4

Pete enjoys rock concerts and the opera. The table shows the marginal

utility he gets from each activity.

Number per month Marginal utility from Rock concerts Marginal utility

from operas

1 120 200

2 100 160

3 80 120

4 60 80

5 40 40

6 20 0

Pete has $200 a month to spend on concerts. The price of a rock concert

ticket is $20 and the price of an opera ticket is $40.

---

6. In problem 4, Pete's uncle gives him $60 to spend on concert tickets, so he now has $260.

a. Draw a graph that shows Pete's consumption possibilities.

b. How many rock concerts and how many operas does Pete now attend?

Information:

Problem 4

Pete enjoys rock concerts and the opera. The table shows the marginal utility he gets from each activity.

Number per month Marginal utility from Rock concerts Marginal utility from operas

1 120 200

2 100 160

3 80 120

4 60 80

5 40 40

6 20 0

Pete has $200 a month to spend on concerts. The price of a rock concert ticket is $20 and the price of an opera ticket is $40.

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QUESTION 6, CH. 7

6. In problem 4, Peteâs uncle gives him $60 to spend on concert

tickets, so he now has $260.

Draw a graph that shows Peteâs consumption possibilities.

How many rock concerts and how many operas does Pete now attend?

Information:

Problem 4

Pete enjoys rock concerts and the opera. The table shows the marginal

utility he gets from each activity.

Number per month Marginal utility from Rock concerts Marginal utility

from operas

1 120 200

2 100 160

3 80 120

4 60 80

5 40 40

6 20 0

Pete has $200 a month to spend on concerts. The price of a rock concert

ticket is $20 and the price of an opera ticket is $40.