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Assume French Fries are x1 and Beef Jerky are x2
Assume French Fries are x1 and Beef Jerky are x2. If p1=2, p2 =5, and m=100. What is the maximal consumption of French Fries?
- a.100
- b.20
- c.25
- d.50
Expert Solution
Suppose consumer consumes x1 and x2 and prices are p1 and p2 respectively. Budget constraint for income m is given by:
p1*x1 + p2*x2 <= m
Here,
p1 = 5, p2 =2, and m=100
Budget constraint is
5*1 + 2*2 <= 100
5*20 + 2*0 = 100
So, the maximal consumption of French Fries is 20. The correct option is B "20".
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