Your new “bulk me up” diet allows you to consume only rice and beans. The price of rice is $1.50/lb. If the diagram above shows your budget constraint:
a) what is the price of beans?
b) how big is your budget according to the diagram below?
c) how much are you spending at point (6,4)?
This is a 10-point question, so please frame the correct answer
to each part as at least one complete sentence (not just a dollar
amount of a number), with an explanation of how you arrived at that
answer. 3 points for each correct answer with explanation plus an
additional point for continuity–the answers should flow from one to
Any response that seems to quote too extensively from your
text OR from any related internet discussion will receive NO
(This should be easy; you’re welcome.)
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