Question

Julie’s entertainment budget for the next six months is $150 per month. She enjoys watching the...

Julie’s entertainment budget for the next six months is $150 per month. She enjoys watching the latest movies and loves the ballet. A movie ticket costs $15 while a ballet ticket costs $35. This month Julie already attended one ballet show and three movies. If Julie decides she would rather see ballet shows for the remainder of this month, how many ballet shows can she attend and stay within her budget?

Homework Answers

Answer #1

Price of a movie ticket, Pm = $15

Price of ballet ticket , Pb = $35

Income = $150

Budget constraint : Pm M + Pb B = Y

(15)M + (35)B = 150

If this month Julie already attended one ballet show and three movie .

This means , 15(3)+ 35(1) = $80 because she has not used her whole budget. And it is mentioned that Julie would see ballet show for the remainder of this month.

The remaining budget is $(150-80)= $70 which hasn't used and will spend on attending the ballet show. This means she will attend 70/35 = 2 more ballet shows in this month.

Therefore, in total Julie would attend 3 movie and 3 ballet shows and stay within her budget.

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