Business: Tonya s budget constraint for gallons of gasoline (g) and shirts (s) each month can be expressed by the equation g = 100 – 2s, where g is the number of gallons of gasoline she buys and s is the total number of shirts she buys. assume that she spends her entire budget each month. if the price of shirts is $10, which consumption bundle lies inside tonya s budget line? a.) 50 units of clothing and 100 units of gasolineb.) 50 units of clothing and 0 units of gasolinec.) 0 units of clothing and 100 units

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Tonya s budget constraint for gallons of gasoline

Ответ:

robertschulte116

05.01.2022

Business

a). 1000$

b). 500$

c). 500$

d). 100$

Explanation:

Budget constraint is the relation between the price of the gallons of gasoline and shirts, knowing the price of the shirts can write down the equation:

2. I= Price Gasoline * G + Price Shirts * S

I= Income , Price Shirts= 10$

From equation 1 know the price of gasoline and the income so now can figure each scenery

$G= \frac{I}{PriceGasoline}- \frac{PricesShirt}{PriceGasoline} * S$

$Price Gasoline= 5$ \\Income= 500$$

a).

$I=PriceG*G +PriceS*S\\I= 5*100+10*50$

I=1000$ is the double of the budget

b).

$I=PriceG*G +PriceS*S\\I= 5*0+10*50$

I=500$ is all the budget

c).

$I=PriceG*G +PriceS*S\\I= 5*100+10*0$

I=500$ is all the budget

d).

$I=PriceG*G +PriceS*S\\I= 5*10+10*5$

I=100$ is lower that the budget

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