Suppose that the carnival and the circus have both come to town, and are both o?ering free admission. You have 6 free hours to kill. Draw the BUDGET LINE that shows your options for how you can spend the day.
b) Now suppose that the carnival institutes an admission fee of $2 per hour and the circus institutes an admission fee of $4 per hour. You still have only 6 hours to kill, and you also have only $20 to spend (in other words $20 is your income) . Draw your NEW budget