Question

On January​ 1, Professor Smith made a resolution to lose some weight and save some money. He decided that he would strictly budget​ $100 for lunches each month. For​ lunch, he has only two​ choices: the faculty​ club, where the price of a lunch is​ $5, and​ Alice's Restaurant, where the price of a lunch is​ $10. Every day that he does not eat​ lunch, he runs 5 miles.Last month, professor smith chose to eat at the club 10 times and Alice's 5 times. Does this choice fit with his budget constrain?

Answer 1

The choice perfectly fits within Professor Smith's Budget constraint

Step-by-step explanation:

Budget constraint is a limitation to a given number units of a product one can consume due to his/her income.

In our case;

Budget for lunch per month≤$100

Let's express the total amount Professor Smith spent on lunch in a month as follows;

Total monthly lunch expenditure=(price of lunch at faculty×number of times lunch is taken at faculty)+(price of lunch at Alice's×number of times lunch is taken at Alice's)

where;

Price of lunch at faculty=$5

number of times lunch is taken at faculty=10

price of lunch at Alice's=$10

number of times lunch is taken at Alice's=5

Total monthly lunch expenditure=$100

replacing;

100≥(5×10)+(10×5)=$100

The budget ($100)=Monthly lunch expenditure ($100)

The choice perfectly fits within Professor Smith's Budget constraint