You have a weekend budget of $27, and the prices of movie tickets and gallons of gasoline are $9 and $3, respectively. You need to get gas, but you would also like to go to one movie. Draw the budget line for this situation. Now assume that gas goes on sale this weekend and its price changes to $2 per gallon, while the price of a movie ticket stays the same. Draw this new budget line on the same graph as the one showing the original scenario. Use the budget lines you have drawn to graph the derived demand curve for gasoline. [Hint: Look at a fixed number of movie tickets (e.g., one ticket).]

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The Answer of You have a weekend budget of $27, and the prices of movie tickets and gallons of gasoline are $9 and $3, respectively. You need to get gas, but you would also like to go to one movie. Draw the budget line for this situation. Now assume that gas goes on sale this weekend and its price changes to $2 per gallon, while the price of a movie ticket stays the same. Draw this new budget line on the same graph as the one showing the original scenario. Use the budget lines you have drawn to graph the derived demand curve for gasoline. [Hint: Look at a fixed number of movie tickets (e.g., one ticket).]

You Have a Weekend Budget of $27, and the Prices