Final answer:
The questions relate to budgeting a weekly sum of $24 for magazines and pies, illustrating arithmetic and financial literacy concepts. Jade can buy a maximum of 6 magazines or 2 pies with her budget. The slope of the budget constraint is -1/3, representing the opportunity cost of trading pies for magazines.
Step-by-step explanation:
The questions provided all relate to creating and understanding a budget, with specific reference to the allocation of a set amount of money towards magazines and pies. In high school mathematics, this kind of problem falls under the category of basic arithmetic and introductory financial literacy. Let's answer the provided questions step-by-step based on the given weekly budget of $24.
24. To find the maximum number of magazines Jade could buy in a week at $4 each, we would divide the total budget by the cost of one magazine: $24 / $4 = 6 magazines.
25. To determine the maximum number of pies Jade could buy at $12 each, we would use the same approach: $24 / $12 = 2 pies.
26. For Jade's budget constraint, the slope is calculated by taking the price ratio of magazines to pies. The slope is -1/3 since one pie forgone allows the purchase of 3 additional magazines.
27. The opportunity cost of purchasing a pie is the number of magazines Jade must give up to buy one pie, which is 3 magazines ($12 / $4).