Answer to Question #142848 in Economics of Enterprise for ribal

Question

Suppose you won $15 on lotto ticket and decided to spend all the winnings on candy bars and bags of peanuts. The price of candy bars is$ 3 and the price of peanuts is $1.50.

a. Construct a table showing the alternative combinations of the two products that are available (10pts

Answer 1

Answer

Price of candy bars=3$

Price of peanuts =1.50$

Total won(budget) =15$

So alternative combinations of the two products are

Note:- first number in bareket will so candy bar and second number will show peanut bag

(0 candy bars, 10 peanuts bag)

(1 , 8)

(2 , 6)

(3 , 4)

(4 , 2)

(5 , 0)