Draw joel''s budget line putting daisies on the vertical

Draw joel''s budget line putting daisies on the vertical axis

Reference no: EM131240674

1. Joel has $10 to spend on some combination of roses and daisies. Roses cost $1 each, and daisies cost $2 each.

a. Draw Joel's budget line, putting daisies on the vertical axis.

b. If Joel buys four daisies, how many roses can he buy?

c. Continuing the example from above, now suppose that Joel's income increases from $10 to $12. Sketch the budget line from problem #1 and then show the change to the new budget line.

Reference no: EM131240674

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