12 BUDGET CONSTRAINT (CI (a) Write down a budget equation stating those combinations of the three commodities, Good X, hours of speeches by politicians(P), and hours of speeches by university administrators(A)that Emmett could afford t consume per week. 15X-1P-2A=50 (b)On the graph above, draw a two-dimensional diagram showing the locus of consumptions of the two kinds of speeches that would be possible for Emmett if he consumed 10 units of Good X per week 2.9(0)Jonathan Livingstone Yuppie is a prosperous lawyer. He has, in his own words, "outgrown those confining two-commodity lim its Jonathan consumes three goods, unblended Scotch whiskey, de- signer tennis shoes, and meals in French gourmet restaurants. The price of Jonathan's brand of whiskey is $20 per bottle, the price of designer tennis shoes is $80 per pair, and the price of gourmet restaurant meals is 50 per meal. After he has paid his taxes and alimony, Jonathan has $400 a week to spend (a) Write down a budget equation for Jonathan, where W stands for the number of bottles of whiskey, T stands for the number of pairs of tennis shoes, and M for the number of gourmet restaurant meals that he consumes. 20W+ 80T+50M=400 (b)Draw a three-dimensional diagram to show his budget set. Label the intersections of the budget set with each axis (c)Suppose that he determines that he will buy one pair of designer tennis shoes per week. What equation must be satisfied by the combinations of restaurant meals and whiskey that he could afford? 20W+50M= 320. 2.10(0) Martha is preparing for exams in economics and sociology. She has time to read 40 pages of economics and 30 pages of sociology. In the same amount of time she could also read 30 pages of economics and 60 pages of sociology12 BUDGET CONSTRAINT (Ch. 2) (a) Write down a budget equation stating those combinations of the three commodities, Good X, hours of speeches by politicians (P), and hours of speeches by university administrators (A) that Emmett could afford to consume per week. 15X − 1P − 2A = 50. (b) On the graph above, draw a two-dimensional diagram showing the locus of consumptions of the two kinds of speeches that would be possible for Emmett if he consumed 10 units of Good X per week. 2.9 (0) Jonathan Livingstone Yuppie is a prosperous lawyer. He has, in his own words, “outgrown those confining two-commodity lim￾its.” Jonathan consumes three goods, unblended Scotch whiskey, de￾signer tennis shoes, and meals in French gourmet restaurants. The price of Jonathan’s brand of whiskey is $20 per bottle, the price of designer tennis shoes is $80 per pair, and the price of gourmet restaurant meals is $50 per meal. After he has paid his taxes and alimony, Jonathan has $400 a week to spend. (a) Write down a budget equation for Jonathan, where W stands for the number of bottles of whiskey, T stands for the number of pairs of tennis shoes, and M for the number of gourmet restaurant meals that he consumes. 20W + 80T + 50M = 400. (b) Draw a three-dimensional diagram to show his budget set. Label the intersections of the budget set with each axis. M T W 8 5 20 (c) Suppose that he determines that he will buy one pair of designer tennis shoes per week. What equation must be satisfied by the combinations of restaurant meals and whiskey that he could afford? 20W +50M = 320. 2.10 (0) Martha is preparing for exams in economics and sociology. She has time to read 40 pages of economics and 30 pages of sociology. In the same amount of time she could also read 30 pages of economics and 60 pages of sociology