Suppose you have $1,000 to spend, and you can allocate that between concerts and cash for "other goods." The price of other goods is $1 per "unit," or you can just think about this as "cash not spent on concerts." The price of concerts is $50 per /cket.
Draw your budget constraint and a hypothe/cal indifference curve at a point that represents you are maximizing your u/lity subject to your budget constraint. Be sure to label the endpoints of your budget constraint. Assign specific quan//es of concerts and other goods to your chosen u/lity-maximizing point. There are many correct combina/ons you can choose; you just need to make sure that you choose an actual point on your budget constraint.
