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 pie is \)12, what is the maximum number of pies she could buy in a week?

Short answer

She can purchase a maximum of 2 units of pies.

Step-by-step solution

Step 1. Given information

Weekly budget = $24

Price of each pie = $12

Step 2. Process

The equation for any budget constraint is:

Budget = P₁ × Q₁ + P₂ × Q₂

Here,

$24 = P₁× 0+ $12 × Number of pies

or, $24 = $12 × Number of pies

or, Number of pies = $24 / $12

Therefore, Number of pies = 2

Step 3. Final Answer 

If she decides to spend all her weekly budget on pies only, then she can buy 2 pies.