Question

Use this information to answer the following 4 questions: Marie has a weekly budget of \(24, which she likes to spend on magazines and pies.

If the price of a magazine is \)4 each, what is the maximum number of magazines she could buy in a week?

Short answer

She can purchase 6 units of magazines.

Step-by-step solution

Step 1. Given information

Weekly budget = $24

Price of each magazine = $4

Step 2. Process

The equation for any budget constraint is:

Budget = P₁ × Q₁ + P₂ × Q₂

Here,

$24 = $4 × Number of magazines+ P₂ × 0

or, $24 = $4 × Number of magazines

or, Number of magazines = $24 / $4

Therefore, Number of magazines = 6

Step 3. Final Answer

If she decides to spend all her weekly budget on magazines only, then she can buy 6 magazines.