Miss Muffet insists on consuming 2 units of whey per 1 unit of curds.If the price of curds is $5 and the price of whey is $3, then if Miss Muffet's income is m, her demand for curds will be

A) m/5.
B) 3m/5.
C) 5c  3w  m.
D) 5m.
E) m/11.

Question

Dijay Domingo · Accepted Answer

Final Answer : E, Explanation :  Miss Muffet's consumption pattern requires her to spend $3 on whey for every $5 she spends on curds, making the total expenditure for one bundle of curds and whey $8 ($5 for curds + $3 for whey). Since she spends her entire income, m, on these bundles, the amount she can spend on curds is 5/8 of her income. Therefore, her demand for curds is m divided by the total cost of one bundle, which is m/8, but specifically for curds, it's (5/8)m, which simplifies to m/11 when considering the proportion of her income spent on both curds and whey together.

Miss Muffet insists on consuming 2 units of whey per 1 unit of curds.If the price of curds is $5 and the price of whey is $3, then if Miss Muffet's income is m, her demand for curds will be

A) m/5.
B) 3m/5.
C) 5c  3w  m.
D) 5m.
E) m/11.

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Learning Objectives

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Miss Muffet insists on consuming 2 units of whey per 1 unit of curds.If the price of curds is $5 and the price of whey is $3, then if Miss Muffet's income is m, her demand for curds will beA) m/5.B) 3m/5.C) 5c  3w  m.D) 5m.E) m/11.

Definitions

Learning Objectives

Learning Objectives

Related questions

Miss Muffet insists on consuming 2 units of whey per 1 unit of curds.If the price of curds is $5 and the price of whey is $3, then if Miss Muffet's income is m, her demand for curds will be

A) m/5.
B) 3m/5.
C) 5c  3w  m.
D) 5m.
E) m/11.