Microeconomics - Budget Line (BL) Ethan is a collector of pokemon cards and stickers. He has $56 given by his dad to spend on his collection. The store sells them at $14 per pokemon cards and $7 for the stickers. 1. If Ethan spends all his money on pokemon cards, what is the maximum unit that he can purchase based on the given budget? 2. If Ethan spends all his money on stickers, what is the maximum unit that he can purchase based on the given budget? 3. Show in an illustration where pokemon cards is in the x-axis and y-axis is the sticker.
Microeconomics - Budget Line (BL) Ethan is a collector of pokemon cards and stickers. He has $56 given by his dad to spend on his collection. The store sells them at $14 per pokemon cards and $7 for the stickers. 1. If Ethan spends all his money on pokemon cards, what is the maximum unit that he can purchase based on the given budget? 2. If Ethan spends all his money on stickers, what is the maximum unit that he can purchase based on the given budget? 3. Show in an illustration where pokemon cards is in the x-axis and y-axis is the sticker.
Chapter1: The Art And Science Of Economic Analysis
Section: Chapter Questions
Problem 2.2P
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Ethan is a collector of pokemon cards and stickers. He has $56 given by his dad to spend on his collection. The store sells them at $14 per pokemon cards and $7 for the stickers.
1. If Ethan spends all his money on pokemon cards, what is the maximum unit that he can purchase based on the given budget?
2. If Ethan spends all his money on stickers, what is the maximum unit that he can purchase based on the given budget?
3. Show in an illustration where pokemon cards is in the x-axis and y-axis is the sticker.
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