Joe's income is $500, the price of food (F, y-axis)is $2 per unit, and the price of shelter (S, x-axis)is $100. Which of the following represents his budget constraint?

Name: Joe's income is $500, the price of food (F, y-axis)is $2 per unit, and the price of shelter (S, x-axis)is $100. Which of the following represents his budget constraint?
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Question

Quizplus · Accepted Answer

The budget constraint is given by the equation 500 = 2F + 100S, where Joe's total income is equal to the sum of his expenditures on food and shelter.

Joe's Income Is $500, the Price of Food (F, Y-Axis)is