Question: Tracy Flick is an ambitious high school student whose preferences over bundles of weekly hours of leisure and weekly consumption are described by 22 the

Tracy Flick is an ambitious high school student whose preferences over bundles of weekly hours of leisure and weekly consumption are described by 22 the utility function, (, ) = (15 ) = 225 30 . After meeting all of her many other time commitments, Tracy has just 20 hours per week that she can split between work (denoted by ) or leisure. Tracy's parents give her a weekly allowance of = 25 per week; Tracy can earn an hourly wage of ; and the price of a unit of consumption is = 1. a. (4 points) Use all relevant information to find an equation for Tracy's budget line and graph it, measuring on the horizontal axis (and making sure to account for the fact that Tracy's time endowment is 20 hours)

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