What if jumbo bags now cost 1 for each case draw a budget, Ask an Expert

Economics

Olivia has received a $15 gift certificate that is redeemable only for peanuts. Bags of peanuts come in two sizes, regular and jumbo. Regular bags cost 50 cents and contains 30 peanuts. Jumbo bags cost 75 cents and contain 50 peanuts. How many of each will olivia purchase? What if jumbo bags now cost $1? For each case draw a budget line that shows her best choice by adding indifference curves. Assume olivia cares only about the # of peanuts and not the bag size.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9679099

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