Kristine is a fan of both romantic movies and classical concerts. This month she has $480 to spend on the two activities. The original budget constraint is shown in the graph below. Let X represent romantic movies and Y rep-resent classical concerts.
a. What is the equation of the original budget constraint?
b. What is the price of a ticket to a romantic movie? a classical concert?
c. Assume price change occurs and Kristine now faces the new budget constraint. What is the equation of the new budget constraint?
d. With the new budget constraint, what is the price of a ticket to a romantic movie? a classical concert?