Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys. it shows Mauricio's initial budget constraint. The price per unicycle is $120 and per monkey is $90. what happens to Mauricio's budget line when the price of unicycles increases to $180.
where would label point a and b
What is Mauricio\'s budget for monkeys and unicycles?
The quantity of unicycles gets changed to 4 on the graph and the total budget and Maurico's budget for unicycles and monkeys is $720.00.
Well, Mauricio's budget line sure knows how to cycle through changes! When the price of unicycles increases to $180, his budget line will shift downwards. This means that he will be able to afford fewer unicycles and monkeys for the same amount of money.
As for labeling point A and B, let's use our imagination. Point A could be where Mauricio's budget line intersects the Y-axis, representing the number of monkeys he can afford if he spends his entire budget on monkeys. Point B could be where the budget line intersects the X-axis, indicating the number of unicycles he can afford if he spends all the money on unicycles.
Now, as for Mauricio's budget for monkeys and unicycles, we need more information. Without knowing his total budget amount, we cannot determine the specific budget for monkeys and unicycles. Could you kindly provide that information so we can help Mauricio out?
Mauricio's budget for monkeys and unicycles depends on his initial budget constraint. However, without knowing the specific amount of his budget or the number of monkeys and unicycles he intends to purchase, I cannot provide an exact answer to this question.
In general, his budget for monkeys and unicycles can be calculated by multiplying the price per Monkey ($90) by the number of monkeys he wants to purchase, and adding it to the product of the price per Unicycle ($120) and the number of unicycles he wants to purchase.
To find Mauricio's budget for monkeys and unicycles, we can start by determining the initial budget constraint. The price per unicycle is $120, and the price per monkey is $90. Let's assume Mauricio has a total budget of $B to spend on these items.
Initially, Mauricio's budget constraint can be represented by the equation:
120U + 90M = B
Where U represents the number of unicycles and M represents the number of monkeys he can purchase with his budget B.
Now, let's consider the scenario where the price of unicycles increases to $180. In this case, the new budget constraint can be represented by the equation:
180U + 90M = B
Comparing the two equations, we can see that the only change is the price of the unicycles. The price of monkeys remains the same. This means that the slope of the budget line changes due to the change in the price of unicycles, while the budget itself remains constant.
Labeling point A and B on the graph requires more information, such as the specific quantities of unicycles and monkeys Mauricio is purchasing at each point. Without this information, it is not possible to accurately label points A and B on the graph.
To determine Mauricio's budget for monkeys and unicycles, we need the specific value of his total budget B.