Asked by Clarise Gindap on Jul 27, 2024
Verified
Edmund must pay $6 each for punk rock video cassettes.If Edmund is paid $48 per sack for accepting garbage and if his relatives send him an allowance of $432, then his budget line is described by the equation
A) 6V 48G.
B) 6V 48G 432.
C) 6V 48G 432
D) 6V 432 G
E) None of the above.
Budget Line
A graphical representation in economics showing all possible combinations of goods a consumer can buy with their income at given prices.
Punk Rock
Punk rock is a music genre that emerged in the mid-1970s, known for its fast tempos, short songs, hard-edged melodies, and political, anti-establishment lyrics.
Video Cassettes
Analog storage mediums used to record video and audio signals for playback on a compatible device.
- Learn about the concept of a budgetary restraint and explore how to calculate the mix of items that can be bought given a certain financial scope.
- Harness mathematical techniques to deal with situations concerning limitations on finances and buying strength.
Verified Answer
DA
David ArimaJul 30, 2024
Final Answer :
C
Explanation :
Let V be the number of punk rock video cassettes Edmund can buy, and let G be the number of sacks of garbage he accepts.
We know that Edmund must pay $6 for each cassette, so the amount he spends on videos is 6V.
He earns $48 for each sack of garbage, so the amount he earns from garbage is 48G.
His relatives send him an allowance of $432, so the total amount of money he has to spend is 432.
Therefore, we can write the budget constraint as: 6V - 48G = 432
This can be rearranged to: 6V = 48G + 432
The correct choice is therefore C.
We know that Edmund must pay $6 for each cassette, so the amount he spends on videos is 6V.
He earns $48 for each sack of garbage, so the amount he earns from garbage is 48G.
His relatives send him an allowance of $432, so the total amount of money he has to spend is 432.
Therefore, we can write the budget constraint as: 6V - 48G = 432
This can be rearranged to: 6V = 48G + 432
The correct choice is therefore C.
Learning Objectives
- Learn about the concept of a budgetary restraint and explore how to calculate the mix of items that can be bought given a certain financial scope.
- Harness mathematical techniques to deal with situations concerning limitations on finances and buying strength.