recall that Miss Muffett insists on consuming 2 units of whey per unit of curds.If the price of curds is $3 and the price of whey is $5, then if Miss Muffett's income is m, her demand for curds will be
A)5m/3.
B)3m.
C)3C + 5W = m.
D)m/3.
E)m/13.

Question

Quizplus · Accepted Answer

Miss Muffett's budget constraint is 3C + 5W = m. Since she consumes 2 units of whey per unit of curds, W = 2C. Substituting W in the budget constraint gives 3C + 5(2C) = m, which simplifies to 13C = m. Therefore, C = m/13.

Recall That Miss Muffett Insists on Consuming 2 Units of Whey