Answer:
The consumer will either be able to buy 8 apples or 16 bananas with a budget of $12.
Step-by-step explanation:
We are given the following in the question:
Total budget or income = $12
Cost of an apple = $1.50
Cost of a banana = $0.75
The consumer spent all of her budget on just apples or just bananas.
Number of apples purchased =
[tex]=\displaystyle\frac{\text{Total budget}}{\text{Cost of an apple}} = \frac{12}{1.50} = 8[/tex]
Numbers of banana purchased =
[tex]=\displaystyle\frac{\text{Total budget}}{\text{Cost of a banana}} = \frac{12}{0.75} = 16[/tex]
Thus, the consumer will either be able to buy 8 apples or 16 bananas with a budget of $12.
