Question

Suppose you have the following information on Sam's budget. Sam has a yearly budget of $2000 to spend on consuming concert tickets or books.
The price of one ticket is $25.
The price of one book is $10.
Use this information to complete the table below. For Bundle A assume Sam spends all his income on concert tickets. For Bundle B assume Sam spends 75% of this income on tickets and the remaining 25% on books. For Bundle C assume Sam spends 25% of this income on tickets and the remaining 75% on books. For Bundle D assume Sam spends 100% of his income on books.
Bundles A B C D
Concert Tickets
Books

Answer 1

Answer:

Bundles                           A           B           C           D

Concert Tickets              80         60         20          0

Books                              0          50        150        200

Explanation:

Since each concert ticket costs $25,

• if Sam spends $2,000 on concert tickets, he will purchase 80 tickets
• if he spends $1,500 on concert tickets, he will purchase 60 tickets

• if he spends $500 on concert tickets, he will purchase 20 tickets

Since each concert ticket costs $10,

• if Sam spends $2,000 on books, he will purchase 200 books
• if he spends $1,500 on books, he will purchase 150 books
• if he spends $500 on books, he will purchase 50 books