Suppose you own an outdoor recreation company and you want to purchaseall-terrain vehicles (ATVS) for your summer business and snowmobiles for yourwinter business. Your budget for new vehicles this year is $480,000. ATVS cost$12,000 each and snowmobiles cost $16,000 each.Budget Line100,90-a. Draw the budget line for your purchase of new vehicles.80-Use the line drawing tool to draw a budget line. Properly label this line. Place end7어points one on horizontal and one on vertical axes.60-Carefully follow the instructions above, and only draw the required objects.50어40-3020어10-L104o 10 20 3o 40 50 60 70 80 90 10oNumber of ATVSEdit coordinates (40,0)Editing:Delete ClearLine toolNumber of Snowmobiles

The budget line, also known as the budget constraint, displays all possible combinations of two…

Suppose you own an outdoor recreation company and you want to purchase all-terrain vehicles (ATVS) for your summer business and snowmobiles for your winter business. Your budget for new vehicles this year is $480,000. ATVS cost $12,000 each and snowmobiles cost $16,000 each. a. Draw the budget line for your purchase of new vehicles. Use the line drawing tool to draw a budget line. Properly label this line. Place end points one on horizontal and one on vertical axes. Carefully follow the instructions above, and only draw the required objects.

Suppose you own an outdoor recreation company and you want to purchase all-terrain vehicles (ATVS) for your summer business and snowmobiles for your winter business. Your budget for new vehicles this year is $480,000. ATVS cost $12,000 each and snowmobiles cost $16,000 each. a. Draw the budget line for your purchase of new vehicles. Use the line drawing tool to draw a budget line. Properly label this line. Place end points one on horizontal and one on vertical axes. Carefully follow the instructions above, and only draw the required objects.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section7.1: Demand

Problem 5R

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Suppose you own an outdoor recreation company and you want to purchase all-terrain vehicles (ATVS) for your summer business and snowmobiles for your winter business. Your budget for new vehicles this year is $300,000. ATVS cost $6,000 each and snowmobiles cost $15,000 each. a. Draw the budget line for your purchase of new vehicles. Use the line drawing tool to draw a budget line. Properly label this line. Place end points one on horizontal and one on vertical axes. Carefully follow the instructions above, and only draw the required objects.
Discuss Budget line
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K Suppose you own an outdoor recreation company and you want to purchase all-terrain vehicles (ATVs) for your summer business and snowmobiles for your winter business. Your budget for new vehicles this year is $180,000. ATVs cost $6,000 each and snowmobiles cost $9,000 each. a. Draw the budget line for your purchase of new vehicles. Use the line drawing tool to draw a budget line. Properly label this line. Place end points one on horizontal and one on vertical axes. Carefully follow the instructions above, and only draw the required objects. b. What is the opportunity cost of one ATV? The opportunity cost of one ATV is 0.67 snowmobile(s). (Round your answer to two decimal places.) c. What is the opportunity cost of one snowmobile? The opportunity cost of one snowmobile is 1.5| ATV(s). (Round your answer to two decimal places.) d. Does the opportunity cost of one ATV depend on how many you purchase? Why or why not? A The opportunity cost of one ATV depend on how many you for purchase…
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