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Question: 1 if the budget line equation is x2 ...

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1) If the budget line equation is x2 = - 154/120 x1 + 15,810/120

What is the income of the consumer?

2) Assume the following is the budget equation for Courtney who spends her income between music concerts and movies:

145 Music Concerts+ 133 Movies = 3,010

If Music Concerts are measured on the vertical axis, what would be the slope of the budget line ?

3) If the slope of the budget line is -72 and the price of x2 is 155, then what is the price of of x1? (hint: remember that prices cannot be negative, so input your answer as a positive number).

4) If the slope of the budget line is -461 and the price of x1 is 138, then what is the price of of x2? (hint: remember that prices cannot be negative, so input your answer as a positive number).

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