Question: Under his household expense budget category, Mark has allocated $60 per month for pet food. He can purchase wet food in a can for $1.50
Under his household expense budget category, Mark has allocated $60 per month for pet food. He can purchase wet food in a can for $1.50 per can or dry food in a bag for $3 per bag.
a. Determine a budget line equation for this situation.
b. Graph the budget line that will depict the different combinations of cans and bags that Mark can purchase while still remaining within his budget.
c. Name a combination of bags and cans that will allow him to meet his budget exactly.
d. Name a combination of bags and cans that will keep him under budget.
e. Name a combination of bags and cans that will cause him to be over budget.
Step by Step Solution
3.41 Rating (154 Votes )
There are 3 Steps involved in it
a Substitute C x 150 and C y 3 and B 60 in the budget line equation C x C y B to get 1... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
790-L-A-L-S (2081).docx
120 KBs Word File
