Saved Help Save & Suppose Marcus eats nothing but burritos for dinner. He buys 30 burritos each month. During the last couple of weeks, Marcus noticed a decrease in the price of burritos. The price of burritos fell from $6.00 per burrito last month to $5.75 per burrito this month. Assume hat Marcus has a fixed income of $180 that he can spend on burritos. How many burritos can Marcus afford to buy at the new price of $5.75? Instructions: Round your answer down to the nearest whole number. burritos

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Inflation
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Suppose Marcus eats nothing but burritos for dinner. He buys 30 burritos each month. During the last couple of weeks, Marcus noticed
a decrease in the price of burritos. The price of burritos fell from $6.00 per burrito last month to $5.75 per burrito this month. Assume
that Marcus has a fixed income of $180 that he can spend on burritos.
How many burritos can Marcus afford to buy at the new price of $5.75?
Instructions: Round your answer down to the nearest whole number.
burritos
Transcribed Image Text:Inflation Saved Help Save & Suppose Marcus eats nothing but burritos for dinner. He buys 30 burritos each month. During the last couple of weeks, Marcus noticed a decrease in the price of burritos. The price of burritos fell from $6.00 per burrito last month to $5.75 per burrito this month. Assume that Marcus has a fixed income of $180 that he can spend on burritos. How many burritos can Marcus afford to buy at the new price of $5.75? Instructions: Round your answer down to the nearest whole number. burritos
Expert Solution
Step 1

Original Price of burritos = $6

New price of Burritos = $5.75

Income he can spend on Burritos = $180

Quantity he can afford at the new price =Incomeprice

 

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