Answer to Question #232750 in Microeconomics for Golden58

Question

Sean is buying salad and pizza for a company lunch. Suppose that a bowl of salad costs $5.00, and a slice of pizza costs $3.00.

Let E

E be the amount in dollars that Sean spends on salad and pizza. If Sean buys S

S bowls of salad and P

P slices of pizza, then the total amount of money he spends (E

E) can be represented by the equation    .

Now rearrange the equation you wrote above so that P

P is written in terms of E

E and S

S. The quantity of pizza he buys can be represented by the equation    .

Suppose Sean has $30.00 to spend on salad and pizza; that is, E=$30.00

E=$30.00.

Answer 1

Assuming individual-individual C exists. Sean is purchasing Salad (PS) costing 5 dollars as well as pizza (PP) costing 3 dollars. In this case, E is let to be cumulative amount spent on P and S by C.

Absolute spending is similar to amount of good P and S expenses.

$E = 5.00 S + 3P$

In S and E, P equation is composed.

$3P = E - 5.00S$

$P = \frac{E-5.00S}{3}$

The needed equation is therefore;

$P = \frac{E-5.00S}{3}$

Individual C will therefore have $30 spending on goods E.