How many of each will jane purchase

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Reference no: EM13190470

Jane has a $15 gift certificate that is only redeemable for peanuts. The bags of peanuts come in two sizes, regular and large. A regular bag has 30 peanuts and a large bag has 50. If a regular bag costs 50 cents and a large bag costs 75 cents how many of each will Jane purchase? What if the large bag costs $1? In each case, draw a budget line that shows her available choices, and indicate her best choice by adding indifference curves. Assume that Jane only cares about the number of peanuts, and not about the size of the bag.

Reference no: EM13190470

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