Final answer:
Jade can buy up to 6 magazines or 2 pies per week with her budget of $24. The slope of her budget constraint is -1/3, and the opportunity cost of a pie is 3 magazines.
Step-by-step explanation:
Analysis of Jade's Budget for Magazines and Pies
Jade can maximize the number of magazines she buys within her weekly budget of $24 by dividing the budget by the cost of a magazine ($4). The maximum number of magazines she can buy is 6 magazines (24 / 4 = 6).
If the price of a pie is $12, Jade can purchase a maximum of 2 pies per week (24 / 12 = 2).
To draw Jade's budget constraint, plot pies on the horizontal (x-axis) and magazines on the vertical (y-axis). The slope of the budget constraint line is the negative of the price ratio of the two goods. As the price of a magazine is $4 and a pie is $12, the slope will be -1/3, indicating for every 3 magazines forgone, Jade can afford 1 additional pie.
Jade's opportunity cost of purchasing a pie is the number of magazines she has to forgo to buy a pie. Since each pie costs $12, equivalent to 3 magazines at $4 each, the opportunity cost is 3 magazines per pie.