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Author Question: Joe's budget constraint equals 500 = 2F + 100S, where 500 is Joe's income, 2 is the price of food ... (Read 102 times)

Bernana

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Joe's budget constraint equals 500 = 2F + 100S, where 500 is Joe's income, 2 is the price of food (F) and 100 is the price of shelter (S). How much food can Joe buy if he buys one unit of shelter?
 
  A) 2 units
  B) 200 units
  C) 250 units
  D) 400 units

Question 2

Joe's income is 500, the price of food (F) is 2 per unit, and the price of shelter (S) is 100. Which of the following represents his budget constraint?
 
  A) 500 = 100F + 2S
  B) 500 = 2F + 100S
  C) S = 500 - 2F
  D) All of the above.


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asdfasdf

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Bernana

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Reply 2 on: Jul 1, 2018
Excellent


fatboyy09

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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