Hulk goes to the gym 20 times a month. His income is 1,000 per month and his visits to the gym cost $4 per visit.

Draw Hulk's budget line for visits to the gym and all other goods, show the consumption bundle that maximizes his satisfaction, and draw the indifference curve through that point.

How do I find the quantity and price for "all other goods"?


closed as off-topic by luchonacho, Herr K., Adam Bailey, BB King, jmbejara May 21 '17 at 22:29

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You generally set the price of "all other goods" to \$1, as "all other goods" is usually measured as "dollars worth of all other goods." Then the maximum quantity of all other goods is just the available income. Then to find the quantity of other goods Hulk buys, just find out how much money is available after he vists the gym 20 times.


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