GoldRush18
  • GoldRush18
Suppose Sandra has $16.00 to spend only on ripe bananas and plums. Ripe bananas cost $0.80 each and plums cost $0.20 each. a. write down the algebraic equation for sandra's budget constraint b. if sandra buys only ripe bananas, calculate how many bananas can be bought? c. if sandra buys only plums, calculate how many plums can be bought? d if sandra were to buy 12 ripe bananas, how many plums could be bought with the funds left over? e. if sandra consumes one less ripe banana (i.e 11) how many more plums could be bought? f. is the rate of trade off the same no matter how many ripe bananas are relinquished? g. calculate the opportunity cost of ripe bananas for sandra? h. calculate the opportunity cost of ripe plums for sandra? i. graph the sandra's budget showing the points mentioned in a-d
Mathematics
jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
Let b=# of bananas , p=# of plums a) 0.8b (cost of all bananas)+0.2p (cost of all plums)=16.00 (total available amount) 0.8b + 0.2p=16 (Ans) b) 0.8b=16-->b=20 bananas c) 0.2p=16-->p=80 plums d) b=12, 0.8*12 +0.2p=16 -->0.2p=16-9.6=6.4 p=32 plums e) b=11, 0.8*11 +0.2p=16 -->0.2p=16-8.8=7.2 p=36-->4 more plums f) Yes. One banana can be relinquished for 4 plums no matter the no.of bananas and plums g) h) i) sorry dunno these parts
GoldRush18
  • GoldRush18
ok thanks very much:)
GoldRush18
  • GoldRush18
wish i knew how to do g, h and i also

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