5.3 What is the slope (value) of Mrs. Bain budget line? 5.4 In theory, what is the slope (value) of the indifference curve at Mrs. Bain's utility maximization point? Justify your answer. W 7 Ms. Bain...

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Extracted text: 5.3 What is the slope (value) of Mrs. Bain budget line? 5.4 In theory, what is the slope (value) of the indifference curve at Mrs. Bain's utility maximization point? Justify your answer. W 7 Ms. Bain maximizes 6. utility (given her budget constraint) at point X, skiing 2 days and spending 3 days horseback riding. 5 4 S Budget line 3 Curve B 2 U Y Curve A v Curve C 0 1 2 3 4 5 6 7 Days of horseback riding per semester Part II Graph Days of skiing per semester 1,


Extracted text: 5. Answer 5.1 to 5.4 given that: Mrs. Bain has a $900 per semester budget for skiing and horseback riding; skiing costs $150/day; and horseback riding costs $200 per day. 5.1 How many days can Mrs. Bain spend horseback riding per semester if she spends her entire budget on horseback riding? 5.2 How many days can Mrs. Bain ski per semester if she spends her entire budget on skiing?