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Author Question: Darius has $1,200 a month to spend on clothing ( c) and food ( f). The price of clothing is $60 and ... (Read 152 times)

vicotolentino

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on: Apr 19, 2019

Question 1

Hector has $1,000 a month to spend on clothing (
c) and food (
f). The price of clothing is $50 and the price of food is $20. What is the equation for Hector's budget constraint?


◦ Clothing + Food < $1,000
◦ $50 × Clothing + $20 × Food ≥ $1,000
◦ ($50 × Clothing) / ($20 × Food) = $1,000
◦ $50 × Clothing + $20 × Food = $1,000

Question 2

Darius has $1,200 a month to spend on clothing (
c) and food (
f). The price of clothing is $60 and the price of food is $10. What is the equation for Darius's budget constraint, assuming he spends his entire budget?


◦ Clothing + Food < $1,200
◦ $60 × Clothing + $10 × Food ≤ $1,200
◦ $60 × Clothing + $10 × Food > $1,200
◦ $60 × Clothing + $10 × Food = $1,200
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by vicotolentino on Apr 19, 2019

amy.lauersdorf90

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Reply #1 on: Apr 19, 2019
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vicotolentino

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Reply #2 on: Apr 19, 2019
Excellent


amy.lauersdorf90

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Reply #3 on: Apr 19, 2019
Great! Please up vote :D


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