ECS1501 ASSIGNMENT 6 GRADED A

ECS1501 ASSIGNMENT 6 QUESTIONS AND EXPECTED ANSWERS The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag. You have $10 to spend on both goods. The maximum number of bags of peanuts that you can purchase is: A. 5. B. 20. C. 40. D. 10. - CORRECT ANSWERC. 40 The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag. You have $5 to spend. You decide to purchase 8 boxes of popcorn. The maximum number of bags of peanuts that you can purchase is: A. 8. B. 10. C. 12. D. 4. - CORRECT ANSWERD. 4 Adam has a monthly income of $20 that can be spent on books (B) and pencils (P). The price of a book is $5 and the price of a pencil is $0.50. Which of the following bundles of books and pencils is UNAFFORDABLE? A. 2 books and 20 pencils B. 2 books and 30 pencils C. 1 book and 20 pencils D. 4 books and no pencils - CORRECT ANSWERB. 2 books and 30 pencils Adam has a monthly income of $20 that can be spent on books (B) and pencils (P). The price of a book is $5 and the price of a pencil is $0.50. Which of the following bundles of books and pencils lies ON Adam's budget line? A. 2 books and 20 pencils B. 1 book and 40 pencils C. 3 books and 5 pencils D. no books and 20 pencils - CORRECT ANSWERA. 2 books and 20 pencils Scenario: Tom's Budget Constraint