Assignment 1 Question-Chapters: 1, 2, 3 & 4: –

Jamal’s weekly budget is $48, which he spends on magazines and pies.


A)If the price of a magazine is $8 each, what is the maximum number of magazines he could buy in a week?  


B)If the price of a pie is $24, what is the maximum number of pies he could buy weekly? 


C)Draw Jamal’s budget constraint with pies on the horizontal axis and magazines on the vertical axis

. Draw the slope of the budget constraint?  

D)What is Jamal’s opportunity cost of purchasing a pie?