The Answer is If income is $90,then the price of a light bulb is $90/15 = $6.He is then spending ($6)(5)= $30 on light bulbs,so he is spending $90 - $30 = $60 on hamburgers.(The price of a hamburger is $90/9 = $10 and he is buying 6 hamburgers. )

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Figure 21-2

question 1

Essay

Figure 21-2.The graph shows two budget constraints for a consumer.
-Refer to Figure 21-2.Suppose Budget Constraint B applies.If the consumer's income is $90 and if he is buying 5 light bulbs,then how much money is he spending on hamburgers?

Definitions:

Equivalent Units

A measure used in cost accounting to represent the amount of work done on partially finished goods, expressed in terms of fully completed units.

Materials Entered

The recording of raw materials introduced into a production or manufacturing process, taking note of their quantity and value.

Equivalent Units

A measure used in cost accounting to express the amount of work done by manufacturers in terms of fully completed units, accounting for partially completed goods as well.

Physical Units

A measure of quantity in terms of countable items or units, often used in production and inventory contexts.