Advanced Placement (AP), 20.10.2020 05:01 amison64
On January 1, Professor Smith made a resolution to lose some weight and save some
money. He decided that he would strictly budget $100 for lunches each month. For
lunch, he has only two choices: the faculty club, where the price of a lunch is $5, and
Alice's Restaurant, where the price of a lunch is $10. Every day that he does not eat
lunch, he runs five miles.
Last month Alice ran a half-price lunch special all month. All lunches were reduced to
$5. Show the effect on Professor Smith's budget constraint.
Answers: 3
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On January 1, Professor Smith made a resolution to lose some weight and save some
money. He decided...
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