Assume that a consumer has a given budget or income of $24 and that she can buy only two goods, apples or bananas. The price of

Question

3 years ago

12

Assume that a consumer has a given budget or income of $24 and that she can buy only two goods, apples or bananas. The price of

an apple is $3.00 and the price of a banana is $2.00. If the consumer spent all of her budget on just apples or just bananas, how many apples or bananas maximum would she be able to buy

Business

1 answer:

Sindrei [870] · Answer 1 · 2021-12-01T22:22:59+03:00

Answer:

12 bananas or 8 apples are needed to purchased

Explanation:

The computation of the number of bananas or the apples is shown below:

Since the income is $24

And, the price of an apple and the price of banana is $3 and $2 respectively

So, the number of bananas is

= $24 ÷ $2

= 12 bananas

And, the number of apples is

= $24 ÷ 3

= 8 apples

Therefore 12 bananas or 8 apples are need to purchased