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Suppose Carolyn is on a fixed monthly income of $200 to spend on food while she is in medical ...

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Suppose Carolyn is on a fixed monthly income of $200 to spend on food while she is in medical ...

Suppose Carolyn is on a fixed monthly income of $200 to spend on food while she is in medical school. Further, suppose the price of a single-serving macaroni and cheese is $4 and the price of a baguette is $2. Which one of the following consumption combinations is possible given these prices and income?

▸ 20 macaroni and cheeses, 100 baguettes

▸ 15 macaroni and cheeses, 80 baguettes

▸ 40 macaroni and cheeses, 50 baguettes

▸ 20 macaroni and cheeses, 60 baguettes

Textbook

Microeconomics: Principles, Applications, and Tools

Edition: 8^th

Authors: O'Sullivan, Sheffrin, Perez

Read 328 times

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