Ralph usually buys 1 pizza and 2 colas from the local pizzeria The pizzeria announces a...

 

Transcribed Image Text:

Ralph usually buys 1 pizza and 2 colas from the local pizzeria The pizzeria announces a special All pizzas after the first one are half-price Show the original and new budget constraint 1) Use the line drawing tool to graph the original budget constraint. For simplicity. assume Ralph spends half of his income on pizza and the other half on cola when he consumes 1 pizza and 2 colas. Label this line 1¹ 2) Use the multipoint curved line drawing tool to draw the new budget constraint Label this line 12 Carefully follow the instructions above, and only draw the required objects Colas Pizza After plotting the final point of your multipoint curve, press the Esc key on your keyboard to end the line Ralph usually buys 1 pizza and 2 colas from the local pizzeria The pizzeria announces a special All pizzas after the first one are half-price Show the original and new budget constraint 1) Use the line drawing tool to graph the original budget constraint. For simplicity. assume Ralph spends half of his income on pizza and the other half on cola when he consumes 1 pizza and 2 colas. Label this line 1¹ 2) Use the multipoint curved line drawing tool to draw the new budget constraint Label this line 12 Carefully follow the instructions above, and only draw the required objects Colas Pizza After plotting the final point of your multipoint curve, press the Esc key on your keyboard to end the line

Answer rating: 100% (QA)

Ralphs original budget constraint and the new budget constraint after the special offer can be repre... View the full answer