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Question 28675: I hope I am asking this in the right section, but I need help with this problem.
A budget line shows all of the different combinations of goods a person can buy with a given budget, B. If a company has $500.00 to spend on 2 goods, "a" and "b" and "a" = $50.00 and "b" = $10.00, graph the budget line using the equation ax + by = B I tried this and got the following did I do this correctly?
ax + by = B
ax + by = 500
50x + 10y = 500
10y = 500 - 50x
y = 50-5x
I used -1, 0, 1 in my xy axis table
I came up with three ordered pairs of (-1,55) (0,50) (1,45)
Found 2 solutions by stanbon, venugopalramana:
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! You might use the inequality ax+by<=B.
The budget allows for $500 but certain
combinations of x and y might result
in expenses of < or = to $500.
Otherwise, your work looks good.
Cheers,
Stan H.
Answer by venugopalramana(3286)  (Show Source):
You can put this solution on YOUR website! SEE MY COMMENTS
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A budget line shows all of the different combinations of goods a person can buy with a given budget, B. If a company has $500.00 to spend on 2 goods, "a" and "b" and "a" = $50.00 and "b" = $10.00, graph the budget line using the equation ax + by = B I tried this and got the following did I do this correctly?
ax + by = B..CORRECT..BUT FIRST GIVE X=NO.OF 'a' GOODS BOUGHT AND Y=NO.OF 'b' GOODS BOUGHT
ax + by = 500...OK
50x + 10y = 500...OK
10y = 500 - 50x..OK
y = 50-5x...OK
I used -1, 0, 1 in my xy axis table..OK...FOR X VALUES YOU WRITE...MATHEMATICALLY OK..BUT JUST THINK PHYSICALLY?CAN YOU BUY NEGATIVE QUANTITY OF GOODS ..SO YOU BETTERR TAKE ONLY POSITIVE VALUES FOR X AND Y ..THAT IS X>=0 BUT <=10 AS OTHERWISE Y WILL BECOME NEGATIVE...SO TAKE 10 INSTEAD OF -1 FOR X.
I came up with three ordered pairs of (-1,55) (0,50) (1,45)..EXCELLENT..AS TOLD ABOVE DROP (-1,55) AND PUT (10,0)INSTEAD...GO AHEAD AND PLOT THEM TO A SUITABLE SCALE WITH CONFIDENCE .THE GRAPH WILL LOOK LIKE THIS..
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