9Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to buy bus tickets and train tickets. Thetrain costs $120 per trip, and the bus costs $40.a. Graph Jordan's budget constraint.Instructions: Use the tool provided (BC₂) to graph Jordan's budget constraint. Draw only the endpoints such that the first pointtouches the vertical axis and the second point touches the horizontal axis.Train trips76543210BC₂BC24 6 8 10 12 14 16 18 20Bus tripsToolsBC₂o2BCInstructions: Round your answers to the nearest whole number.b. How many total trips can Jordan take if she takes the train three times?6 total tripsc. Suppose Jordan's travel budget is cut to $360. Draw her new budget constraint.Instructions: Use the tool provided (BC) to graph Jordan's new budget constraint. Draw only the endpoints such that the first pointtouches the vertical axis and the second point touches the horizontal axis.d. How many train trips can she take if she doesn't want to reduce the total number of trips she takes each year?train trips per year

Budget (M) - $600Train cost - $120Bus cost - $40New Budget (M') = $360

9 Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to buy bus tickets and train tickets. The train costs $120 per trip, and the bus costs $40. a. Graph Jordan's budget constraint. Instructions: Use the tool provided (BC₂) to graph Jordan's budget constraint. Draw only the endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis. Train trips 7 6 5 4 3 2 1 0 BC₂ BC 246 8 10 12 14 16 18 20 Bus trips Tools BC₂ BC Instructions: Round your answe swers to the nearest whole number. b. How many total trips can Jordan take if she takes the train three times? 6 total trips c. Suppose Jordan's travel budget is cut to $360. Draw her new budget constraint. Instructions: Use the tool provided (BC) to graph Jordan's new budget constraint. Draw only the endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis. d. How many train trips can she take if she doesn't want to reduce the total number of trips she takes each year? train trips per year

9 Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to buy bus tickets and train tickets. The train costs $120 per trip, and the bus costs $40. a. Graph Jordan's budget constraint. Instructions: Use the tool provided (BC₂) to graph Jordan's budget constraint. Draw only the endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis. Train trips 7 6 5 4 3 2 1 0 BC₂ BC 246 8 10 12 14 16 18 20 Bus trips Tools BC₂ BC Instructions: Round your answe swers to the nearest whole number. b. How many total trips can Jordan take if she takes the train three times? 6 total trips c. Suppose Jordan's travel budget is cut to $360. Draw her new budget constraint. Instructions: Use the tool provided (BC) to graph Jordan's new budget constraint. Draw only the endpoints such that the first point touches the vertical axis and the second point touches the horizontal axis. d. How many train trips can she take if she doesn't want to reduce the total number of trips she takes each year? train trips per year

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section: Chapter Questions

Problem 1PA

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