A consumer lives on a diet of solely steak and potatoes. Her budget is $30 for every 10 days and she must buy enough potatoes to eat at least 2 potatoes per day. If a potato costs $0.50 and the price of a steak is $10. How much will the consumer purchase of each good?

Question

Piper Nelson

Business

11 March, 15:02

A consumer lives on a diet of solely steak and potatoes. Her budget is $30 for every 10 days and she must buy enough potatoes to eat at least 2 potatoes per day. If a potato costs $0.50 and the price of a steak is $10. How much will the consumer purchase of each good?

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Answers (1)

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Fields · Answer 1

Total = 20 potatoes + 2 steaks

Explanation:

Giving the following information:

Her budget is $30 for every 10 days and she must buy enough potatoes to eat at least 2 potatoes per day. If a potato costs $0.50 and the price of a steak is $10.

2 potatoes a day = 0.5*2 = 1

Consumption of potatoes = 10 days*$1 = $10

Consumption of steak = 30 - 10 = 20/10 = 2 steaks.

Total = 20 potatoes + 2 steaks