Marie has a weekly budget of $24, which she likes to spend on magazines and pies. Calculate: a) If the price of a magazine is $4 each, what is the maximum number of magazines she could buy in a week? b) If the price of a pie is $12, what is the maximum number of pies she could buy in a week? c) Draw Marie’s budget constraint with pies on the horizontal axis and magazines on the vertical axis. What is the slope of the budget constraint?
Marie has a weekly budget of $24, which she likes to spend on magazines and pies. Calculate:
a) If the price of a magazine is $4 each, what is the maximum number of magazines she could buy in a week?
b) If the price of a pie is $12, what is the maximum number of pies she could buy in a week?
c) Draw Marie’s budget constraint with pies on the horizontal axis and magazines on the vertical axis. What is the slope of the budget constraint?
d) What is Marie’s
NOTE: To answer this question simply work your answer in a piece of paper, take a photo of it and upload the file. Remember that this is a problem solving question, hence you must show your work!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
