Question
Suppose Cheyan has $X to spend on watermelons and pineapples. Select a value for X between ($100 - $400), such that each student will have
Suppose Cheyan has $X to spend on watermelons and pineapples. Select a value for X between ($100 - $400), such that each student will have a unique answer. Watermelons cost $2.00 per pound and bananas cost $6.00 per pound.
i. If Cheyan buys 20 pounds of watermelon, how many pounds of bananas could be bought with the funds leftover? (2 mark)
ii. If Cheyan consumes one less pound of watermelon (that is, 19), how many more pounds of bananas could be bought? Is this rate of trade-off the same no matter how many pounds of watermelons are relinquished? (2 mark)
iii. Write down the algebraic equation for Cheyan's budget constraint. (2 mark)
iv. Using any six (6) data points, graph her budget constraint with watermelons on the Y axis. Be sure to show the values where the budget constraint cuts the X-axis and the Y axis.
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