Question

Suppose you have a grandfather who always eats 2 biscuits with one cup of coffee. He...

Suppose you have a grandfather who always eats 2 biscuits with one cup of coffee. He eats biscuits only with coffee. A can of biscuits costs $14 and it contains 20 biscuits. A cup of coffee costs 60 cents. He reserves $60/month to he coffee and biscuits. How many cups of coffee will he drink per month?

Homework Answers

Answer #1

Answer; 30 cups of coffee per month.

Grandfather always eats 2 biscuits with 1 cup of coffee.

A can of biscuits costs $14 and it contains 20 biscuits.

Cost of 20 biscuits = $14

Cost of 1 biscuit = $14 / 20 = $0.7 or 70 cents.

Cost of 2 biscuits = $0.7 *2 = $1.40

A cup of coffee costs 60 cents.

So, the total cost of 2 biscuits and 1 cup of coffee = $1.40 + $0.60 = $2.00

Thus spending $2, grandfather gets 2 biscuits and 1 cup of coffee. He reserves $60/month for coffee and biscuits.

Now, when grandfather's budget is $2, he gets 2 biscuits and 1 cup of coffee. As the grandfather always eats 2 biscuits with 1 cup of coffee, he maintains the same proportion when his budget rises. So when his budget rises, then the proportionate increase in biscuit and coffee will be same as the proportionate increase in budget.

When grandfather reserves $60/month for coffee and biscuits, his budget increases by 30 times ( $2 * 30) of his budget of $2. Now, as his budget increases by 30 times, his consumption of coffee and biscuits will also increase by 30 times

Thus his consumption of coffee will be = 1 * 30 = 30 cups.

His consumption of biscuits will be = 2 * 30 = 60 biscuits.

So, grandfather will drink 30 cups of coffee per month.

________________________________________________________________________

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose that Omar’s marginal utility for cups of coffee is constant at 6.5 utils per cup...
Suppose that Omar’s marginal utility for cups of coffee is constant at 6.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second he eats, 8 for the third he eats, and so on (that is, declining by 1 util per additional doughnut). In addition, suppose that coffee costs $1 per cup, doughnuts cost $1 each, and Omar has...
If you have 127 different drink and one cup fits 3 drink Q1) how many cups...
If you have 127 different drink and one cup fits 3 drink Q1) how many cups can you have? Q2) What is the probability of my friend and I getting the same cup with three drink? Q3) If there is 20 special drink out of the 127, what is the probability of getting a) cup contains three special drink b) cup contains at least one special drink ?
According to a study, a cup of coffee contains an average of 112 milligrams (mg) of...
According to a study, a cup of coffee contains an average of 112 milligrams (mg) of caffeine, with the amount per cup ranging from 60 to 186 mg. Suppose you want to repeat the experiment in order to obtain an estimate of the mean caffeine content in a cup of coffee correct to within 6 mg with 99% confidence. How many cups of coffee would have to be included in your sample? The experiment must sample ____________ cups of coffee...
Show that you can only fit one isolated proton inside an ordinary coffee cup! [Hint: suppose...
Show that you can only fit one isolated proton inside an ordinary coffee cup! [Hint: suppose one proton is already sitting on the bottom. Then imagine another one above it at a distance h. The only forces acting on it are gravity and the force of the other proton. Solve for h and compare to the size of a coffee cup!]
Your child only eats cheese quesadillas. You produce cheese quesadillas (Q) from 2 inputs: tortillas (T)...
Your child only eats cheese quesadillas. You produce cheese quesadillas (Q) from 2 inputs: tortillas (T) and shredded cheese (C). You learn that Costco is having an incredible deal on tortillas and cheese and go to buy enough to stuff your freezer full. A package of Tortillas costs $1 and contains 12 tortillas. A package of shredded cheese costs $1 and contains 4 cups of shredded cheese. Your picky child will only eat the cheese quesadilla if there is exactly...
Please give a detailed explanation. I have the answer. Suppose two coffee snobs who must have...
Please give a detailed explanation. I have the answer. Suppose two coffee snobs who must have their coffee and cream in exact proportions (each cup is 10 coffee per 1 unit cream) are invited to a weekend long event (during which they can easily consume 8 cups of coffee). Suppose Snob A is given 8 units of cream and Snob B is given 80 units of coffee. The contract curve in the Edgeworth box would be a. a right angle...
13. Podunk City has two coffee shops and everyone in the city buys one cup of...
13. Podunk City has two coffee shops and everyone in the city buys one cup of coffee per day. The owners of these shops can serve Maxwell House Coffee or they can serve Le Fru FruGourmet Coffee (simplifying assumption—suppose they charge the same price for either cup of coffee). Assume that customers strictly prefer Le Fru Fru coffee so that if one firm offers Le Fru Fru and the other doesn’t, all customers will go to the Fru Fru shop...
Karges Coffee Inc. manufactures a line of single-cup brewing machines for home and office use that...
Karges Coffee Inc. manufactures a line of single-cup brewing machines for home and office use that brew a cup of coffee, tea, or hot chocolate in less than a minute. The machines use specially packaged portions of coffee, tea, or hot chocolate that can be purchased online directly from Karges or at specialty coffee shops licensed to distribute the company's products. The appeal of the brewing machines is twofold. First, they offer a high level of convenience. The use of...
To Make a Cup of Coffee, It Takes More Than a Village A journey of thanks...
To Make a Cup of Coffee, It Takes More Than a Village A journey of thanks for a simple daily pleasure reveals the miracle of a globalized economy. I recently had the opportunity to gaze at one of the most mind-boggling accomplishments in history. This marvel is the result of thousands of human beings collaborating across dozens of countries. It required the combined labor of artists, biologists, politicians, mechanics, miners and goatherds. It took airplanes, boats, trucks, motorcycles, vans, pallets...
Robert treats coffee and creamer as perfect complements and has very specific requirements for the ratio...
Robert treats coffee and creamer as perfect complements and has very specific requirements for the ratio of creamer to coffee. He will drink coffee only if he has exactly 3.00 packets of creamer for every cup of coffee. Coffee is priced at $3.00 per cup and creamer at $0.25 per packet. a. Suppose that Robert has $45.00 to spend on coffee and creamer. Find his optimal consumption bundle of coffee cups and creamer packets. b. Now, suppose that the price...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT