Question

Dilbert has a $50 budget each month for hours of internet access (H) and slices of pizza (P). Draw his budget constraint for each of the following situations, where hours of internet service are on the x-axis and slices of pizza are on the y-axis. Please use a separate graph for each part and label all axis and intercepts.

The price of pizza is $1/slice. Dilbert subscribes to an internet provider that offers unlimited internet access for a flat fee of $20 per month.

Answer 1

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Dilbert has a budget of 50

Price of pizza = $1 per slice

Price of internet access = $20 per month

if Dilbert spends all money on a pizza he can buy up to 50 slices and if Dilbert spends all money on the internet access he can buy up to 2.5 units.

the budget equation is

1(Pizza slices) + 20 (internet unit) = 50

The budget line curve is,