Jim lives in a strange country where he can only buy three types of products--apples, beer, and phones. The price of each apple is $0.50; the price of each beer is $4; the price of each phone is $100. Jim has $200 that he spends on these items.

QUESTIONS:

a) WRITE an equation representing Jims budget constraint. DEFINE all variables (letters) that you use in the equation.

b) If Jim buys 15 beers and 1 phone, then CALCULATE how many apples he buys in the week. (You must SHOW your calculations to receive any credit for your answer.)