MyOpenMath Assessment

1. A student has a monthly budget of $150 to spend on either beers, which cost $5 each, or sodas, which cost $3 each.

What is the largest number of beers that the student could afford to purchase in one month?

Hint

2. What is the largest number of sodas the student could afford to purchase in one month?

Hint

3. Draw the student's budget constraint. Put beers on the x-axis and sodas on the y-axis.

Graph to add drawings to:

Graphing window shows horizontal axis: -5 to 60, vertical axis: -5 to 60.

Elements to draw:

No elements have been added yet

Add new drawing element:

Hint 1

Hint 2

4. Which combinations of beers and sodas are unaffordable?

those to the left of the line in the above graph
those to the right of the line in the above graph

Hint

5. Indicate which combinations would leave some budget unspent.

those to the left of the line in the above graph
those to the right of the line in the above graph

Hint

6. What is the equation for the student's budget constraint? In your equation, use Q1 as the variable to represent the quantity of beers and Q2 to represent the quantity of sodas.

Hint

7. What is the opportunity cost of a beer?

sodas

Hint

8. What is the opportunity cost of a soda?

beers

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9. How can one see the opportunity cost on the graph?

Hint