Question

Marie has a weekly budget of $24, which she likes to spend on magazines and pies. The price of a pie is $12. If the price of a magazine is $4 each, the maximum number of magazines she could buy in a week is . If she buys 1 pie the number of magazines she can buy in a week is . What is her $ opportunity cost of purchasing a pie? If Marie's weekly budget is $24, which she likes to spend on magazines and pies, and If the price of a pie is $12 each, what is the maximum number of pies she could buy in a

Answer 1

1. 6 magazines

2. 3 magazines

3.Opportunity cost of a pie = $ 12

4. 2 pies

Step-by-step explanation:

Weekly budget = $ 24

To be spent on pie and magazine

Pie price $ 12

Magazine price $ 4

Maximum number of magazine to buy = spend the whole amount on magazine

=24/4

i) 6 magazines.

ii) If she buys 1 pie at 12 she will be left with (24-12)=$12

Number of magazine to buy with these $12

=$12/4

= 3 magazines

iii) Opportunity cost of a pie = $ 12

iv) Maximum number of pies= whole amount spend on pie

=$24/12

=2 pies